Company Name Change
The Name change for the Private Limited company may have to be changed for a many reasons including objective change of the business: Change of management; Branding, Change of Board Members, etc..The company can change the name of the business any time with the approval of the shareholders and Ministry of Corporate Affairs. As per the MCA guidelines under section 13, of companies, act. The Company’s name change process is processed and approved. Get the best knowledge, from the expert team for changing the business name with kanakkiyal.com
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Company Name Change
The name of a private limited company may have to be changed for a number of reasons including change of objective of the business, change of management, rebranding, etc., The name of a private limited company can be changed at anytime with the approval of the shareholders and Ministry of Corporate Affairs (MCA).
Reasons for Company Name Change
- Voluntary Name Change of company
- Change in Business Objective
- Change of Ownership
- For Rebranding/Marketing
- Avoiding Copyright Issues:
Voluntary Name Change of company
The company may, on its own, decide to change the name of the company, subject to fulfilment of all other conditions it is very much legal and normal to change the company name voluntarily.
Change in Business Objective
Change in the name may be required due to change of business objective. If the name does not truly reflect the altered objective, it can be changed in line with the objective. The company must apply for a change if the Registrar has directed to do so in such case.
Change of Ownership
It is seen that after the change of ownership or takeovers, the company name also changes to reflect upon the authority of the new management and for branding purposes.
For Rebranding/Marketing
For marketing reasons or to effectively position the company’s brand, sometimes companies also change their name to bring it as per the latest trend and fashion for better brand positioning.
Avoiding Copyright Issues:
If a company’s name is subjected to copyright issues, then it can change its name to avoid problems.
Documents Required for Company Name change
Current Certificate of Incorporation
Proposed Name(s) in order of preference.
List of Directors and Shareholders
MOA and AOA in word format
Digital Signature of the authorised director
Letterheads (approx 10) and rubber stamp of director
Process & Timeline for Company Name Change
A Board meeting must be convened to pass a resolution for change of name of the company and to authorize a director or Company Secretary to make an application to the MCA for ascertaining availability of proposed name. At the same Board meeting, a resolution to convene an extraordinary general meeting for changing the name of the company, and altering the Memorandum of Association and Articles of Association can also be passed.
While changing the name of the business firstly need to check the name availability of the company and Trade mark registration under the companies act 2013. File Run to apply the new name of the Business with the existing CIN number of the Company. The new name can be approved by the Register of Companies only if the name is unique and not or similar to existing company, LLP, Domain or a Trademark.
The name of the company should be unique and an application is to be made for approval from the Ministry of Corporate Affairs. Up to 2 names can be provided. In case of rejection, an opportunity is given to the applicant for re-submission of the form with 2 more names.The Name Provided must be as per the rule 8 of Company registration act,2013.
Once a name is approved by the MCA, the Company must conduct an extraordinary general meeting (EGM) and the board has to pass a special resolution for company name change, and consequential changes to the MOA & AOA of the name approved by the Ministry of Corporate Affairs.
Within 30 days of conducting EGM file the special resolution to the concerned ROC in form MGT-14 with the all needed documents with the form:
That Particular Company has to get the approval from the MCA for changing the name of the company and also need to do the modification in MOA as well as in AOA by filing form INC- 24 by attaching the necessary documents by the company.
After completing the process of the name change, the new Certificate of Incorporation shall be granted by ROC with the amended name on it. since the issuance of a new Certificate of Incorporation the new name will come to effective
The special resolution means a decision taken by more than 75% voting rights.
More than 75% of voting rights taken decision on special resolution in name change of the company
Subsequent to the issuance of the new incorporation certificate, steps must be taken to incorporate the new company name in all the copies of Memorandum of Association, Articles of Association and Certificate of Incorporation issued by the Registrar.
Frequently Asked Questions
Yes, all the copies of the MOA and AOA of the company shall also be altered to reflect the changed name of the company.
In most instances the Companies Act 2006 requires that a special resolution to change company name be passed to secure shareholder approval of the new name. A resolution is simply a formal way by which the company can propose a decision for the shareholders to approve
A digital signature is electronic signature, which is in the form of codes. It is used for signing the electronic forms, filed with ROC for incorporation of Company. Digital Signature cannot be used in physical documents.
Memorandum of association is the most important document of the company. It is the charter of the company, which defines the objects of the company’s formation and the utmost possible scope of its operations beyond which its actions cannot go.
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