COMPANY NAME CHANGE
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The company can change its name at any time with the consent of the shareholders of the company. Change the name of your company with help of experts. Get Free Consultation
Company Name Change
The name of a company is a very important thing because without a name no business can be registered. The name is the face of business, the consumer knows any company by its name. It is very important to reserve and secure the name so that no one can misuse the name of the company or any other person cannot use the name. For the protection of the name, a Trademark registration application needs to be filed. To register any company first the name approval should be taken from the registrar, once the approval is given by the Ministry of Corporate Affairs the further process will be started.
The company can change its name at any time with the consent of the shareholders of the company. The LLP can also change the name by filing a name changing request to the registrar. The memorandum of association also gets changed after the name change of the company, the old name will get replaced with a new name. A new name shall be applied to the registrar for its reservation, the name should be unique and no prohibited word used in the name for the reservation. Once the name is approved a form MGT-14 and INC-24 shall be filed by the company for name changing approval. The procedure for the name change is laid down in section-13 of the companies act, 2013.
Documents Required For Name Change Of Company
- Copy of board resolution
- New names
- Copy of special resolution
- Copy of explanatory statement
- Memorandum of Association (MOA) of company
- Article of Association (AOA) of company
- Digital Signature of Authorized director
Process Of Company Name Change
STEP 1 - BOARD RESOLUTION
A board meeting has to conduct for passing board resolution for the name change of the company. Once the board is agreed with the decision for the name change of the company, they pass board resolution for the same and authorize a person (director or any other person) to take all the steps for completion of the name change process.
STEP 2 - NAME RESERVATION
After passing board resolution a name reservation application shall be filed in the RUN application. The name should be unique and available means no other company should be registered with that name. The approval of name always depends upon the registrar, the registrar may approve the name or may reject the application but before rejection, the registrar gives one option for re-submission of the application.
STEP 3 - SPECIAL RESOLUTION FOR NAME CHANGE
Once the name is approved by the registrar, a general meeting has to be conducted for taking approval of the shareholders. A special resolution shall be passed for the name change of the company and the alteration of the name clause in the memorandum of association of the company.
STEP 4 - FILING OF MGT-14
Within 30 days from the date of passing special resolution MGT-14 form shall be filed along with the special resolution, altered MOA, AOA, explanatory statement for the name change, etc. for the approval of the registrar.
STEP 5 - FILING OF INC-24
Once the MGT-14 is approved by the registrar form INC-24 shall be filed for issuance of the new certificate. In this form, the SRN of approved MGT-14 shall be mentioned along with that the reason for such alteration and other details shall be mentioned in this form.
STEP 6 - ISSUANCE OF FRESH CERTIFICATE OF INCORPORATION
If the registrar is satisfied with the form INC-24 then he will issue a certificate of incorporation with the new name in form INC-25.
NOTE: The company has to make certain alteration in the documents, records, registers, signboard, letterhead, MOA, AOA etc. and has to replace the old name with the new name. The name change shall not affect the status of the company like it does not affect any litigation or cases pending against the company and others matters against the company. The company will remain the same, only the name will get changed.
Not Allowed To File A Name Change Application
The company cannot change its name if it has failed to file an annual return or financial statements to the ROC which required to be filed or the company has failed to repay or pay matured deposits or debentures or interest thereon.
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Frequently Asked Questions
The company can change its name at any time during the tenure of its business. But a company that fails to file an annual return or financial statement to ROC or the company has failed to pay or repay the amount of matured deposits or debentures or interest. These types of companies can change their name only by filing necessary documents or payment or repayment of matured deposits or debentures or interest.
The name should be desirable, an undesirable name shall not be approved. The name should not be similar or identical to the existing company’s name or must not contain any prohibited word, etc. there are many conditions which it has to fulfill before choosing the name of the company.
Once the name is approved by the registrar it will be valid for a certain period and it is as follows:
- In case of new incorporation of the company: 20 days from the date of approval
- In case of change of name of the company: 60 days from the date of approval
The application for a change of name of the company is filed to the registrar of companies under whose jurisdiction the registered office of the company is situated.
Any company can file the name change application like One Person Company, Section-8 company, Nidhi Company, Private Limited company, even an LLP registered with MCA can also file name change application according to the rules prescribed under LLP Act, 2008
No, there is no need to take trademark registration for filing a name change application. The person can file a trademark application even after the name change approval. But if the applicant already has a registered trademark, then he has to provide the trademark certificate and NOC for the same.
Following forms shall be filed for the name change:
- RUN (Reserve Unique Name)