CHANGE OF COMPANY NAME

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CHANGE OF COMPANY NAME

The change of Company Name is quite similar to change of name of any person. The Company is required to follow the necessary procedures and compliances as may be prescribed in the Company Act 2013. The Name of Company should not be similar or identical to earlier registered name of any other company. Also, the applicable provisions such as section 13 and restrictive prohibition in deciding name of the company should be kept in mind of the company. Changing company names amounts to a significant alteration since Memorandum of Association and Articles of Association need to be altered.

BENEFITS

Benefit of name change of company is as follows:.

  • Repositioning
  • Specific product or service
  • Memorable Business Name
  • When you can’t get a copyright
  • Location friendly Name
  • Change of Ownership
  • Resonate with the object of the Company.

Procedure of Change Company Name

1
Search Company Name

The applicant is required to search the name of the Company on the mca21 portal which he/she proposed to choose as name of the company.

2
The existing company who wants to change its name is required to reserve the name through ‘RUN’.

1. Copy of Board Resolution. 2. Approval of Owner of Trade Mark or the applicant of such application.
[If proposed name(s) are based on a registered Trade Mark or is a subject matter of an application pending for registration under the Trade Mark Act, 1999]

3
Approval From Board

After approval of the new name the company is required take approval from the Board and also pass a special resolution in the meeting of the shareholders.

4
MGT-14

Also, after the name is approved, MGT-14 (necessary resolution for alteration of Memorandum of Association and Articles of Association (MOA and AOA) needs to be filed.

5
E-Form INC-24

5: E-Form INC-24 (Application for approval of Central Government for change of name) needs to be filed to give effect to change in name.

6
Certificate of Incorporation

Once, all the formality are completed Registrar of Company shall issue a new Certificate of Incorporation after fulfilling all requirement.

Documents Required For Change of Comapny

Following document are required for change of company name as follows:

  • Certified Copy of Special resolution
  • Notice of EGM
  • Explanatory Statement to EGM
  • Altered Memorandum of Association
  • Altered Article of Association

FAQs

Q. What are the features of RUN (Reserve Unique Name) web service?
It is a simple and easy to use web service for reserving a name for a new company or for change of name for any existing company.
Q. It is a simple and easy to use web service for reserving a name for a new company or for change of name for any existing company.
This is a post-login service and existing users would need to login into their account using their credentials. New users are required to create a login account first before using the service. After login, they may click on the icon RUN (Reserve Unique Name) under the head ‘MCA Services’. Once they click on the icon, the following web page will appear.
Q. What is to be entered in the space “Proposed name”?
User has to enter the name he wants to reserve, for incorporation of a new company or for changing the name of an existing company. Users are requested to ensure that the proposed name selected does not contain any word which is prohibited under Section 4(2) & (3) of the Companies Act, 2013 read with Rule 8 of the Companies (Incorporation) Rules, 2014. Users are also requested to read and understand Rule 8 of the Companies (Incorporation) Rules, 2014 in respect of any proposed name before applying for the same.
Q. For how many days is a reserved name valid?
An approved name is valid for a period of
(i) 20 days from the date of approval (in case name is being reserved for a new company) or
(ii) 60 days from the date of approval (in case of change of name of an existing company).
Q. How are the names applied through the service are processed?
Name applications will be processed by Central Registration Centre (CRC) under Non-STP mode. The name applied for will be subjected to a comprehensive check by the Central Registration (CRC) and thereafter approval or rejection, as the case may be, shall be communicated by e-mail to the applicant.

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