Change of Name2022-09-26T13:28:38+05:30

Change of Company Name

A company may require to change its name under various situations such as rebranding, change in business objectives, sale of a company or correction of an error etc. by following the due procedure as prescribed by Ministry of Corporate Affairs (MCA).

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    Change of Company Name

    The name of a company establishes a separate identity for an organization. The first clause in the Memorandum of Association (MOA) of the company states the name of a company by which it is known. A Company may wish to change its name due to various reasons such as rebranding, change in business objectives, sale of a company or correction of an error. A company can change its existing name after obtaining approval from the Central Government and passing a special resolution in its general meeting and complying with the provisions of Companies Act 2013.

    What are the Reasons for Change of Company Name

    • Change in the Business Objective

      In the course of trade and business, the company may at a point of time change its overall business objectives. In such a situation, there may arise a need to change the name of the company.

    • Rebranding of the Company

      Rebranding strategy is a tool used by the company to change the corporate image or perception of an organization. In the process of rebranding, the company may change its name for better market positioning.

    • Rectification of Name of a Company by ROC

      If the name of a company is found to be identical, inappropriate or nearly resembling to an existing company or registered trademark, then the concerned Registrar of Companies (ROC) may order for rectification of name of company within the prescribed timeline.

    Minimum Requirements for Change of Name

    • The proposed new name of Company

    • Approval of Shareholders by way of Special Resolution

    • No default in filing of annual returns or financial statements

    • No default in payment or repayment of matured deposits or debentures or interest thereon

    What is included in our Change of Company Name package?

    • Consultation on the process of change of name

    • Verification of documents

    • Documentation for Changing the Name of Company

    • Obtaining approval for the proposed new name

    • Filing of Form MGT 14

    • Filing of Form INC 24 with the ROC

    • Liaisoning between ROC and other Regulators

    Process of Change of Company Name

    • Collection of required Information and Documents

      In the first step, we shall collect the required information and documents as per the checklist. We shall verify and confirm the documents and information provided and then proceed towards next step.

    • Preparation of Documents for filing with ROC

      Once we receive all the required information and documents from your side, we shall then prepare the documents required such as board resolution, general meeting resolution etc. for changing the name of the company. We shall also obtain the name approval of the proposed new name of the company.

    • Submission of Forms with ROC

      After documentation, we shall file relevant forms with the Registrar of Companies (ROC) for changing the name of company.

    • Get Approval

      ROC shall check and verify the documents submitted and grant approval, respectively. The ROC shall enter the new name in the register of companies in place of the old name and issue a fresh certificate of incorporation and such change in the name shall be complete and effective on the date of issue of such a certificate.

    Documents Required for Change of Company Name

    • Certificate of incorporation

    • Memorandum of Association (MOA) and Articles of Association (AOA) of Company

    • Shareholder’s list or Copy of Shareholder Register

    • Approval from Regulators (wherever required)

    • Digital Signature Certificate (DSC) of Authorised Director

    • Any other documents as may be required

    Compliances after Change of Company Name

    • A company shall paint or affix or print along with its name, the former name or names so changed during the last two years on the name board, business letters, billheads, letter papers, and in all its notices and other official publications.
    • Alteration made in the name of company shall be noted in every copy of the MOA and/or AOA

    FAQ

    How much time is required for changing the name of a company?2021-10-31T13:52:33+05:30

    The change of name shall take approximately 15-20 days, subject to ROC approval.

    How many times can I change the name of Company?2021-10-31T13:52:07+05:30

    You can change the name of company multiple times, there is no such restrictions provided in the Companies Act 2013.

    Is shareholder’s consent required for changing the name of company?2021-10-31T13:51:45+05:30

    Yes, the shareholder’s consent by way of special resolution is required for changing the name of company.

    Will I get a new Certificate of Incorporation after the change of name?2021-10-31T13:51:24+05:30

    Yes, the ROC shall issue a fresh certificate of incorporation with the new name and such change in the name shall be complete and effective only on the date of issue of a certificate.

    My company has not filed annual returns and financial statements, will I be able to change the name of the company?2021-10-31T13:51:02+05:30

    No, the company is not eligible to change the name of the company if it has defaulted in filing of annual returns or financial statements or payment or repayment of matured deposits or debentures or interest. However, the change of name shall be allowed upon filing necessary documents or payment or repayment of matured deposits or debentures or interest thereon.

    Do I need to need to write old name of the company on the name board, letterheads, invoices, etc. after changing the name of my company?2021-10-31T13:45:42+05:30

    Yes, you need to mention the old name of company (Ex. Formerly known as …… ) on the name board of the company, letterheads, business letters, invoices, bills of exchange, and other documents wherever the name of the company is mentioned for a period of 2 years of such change.

    Do I need to update the name of my company on various registrations after name change?2021-10-31T13:44:46+05:30

    Yes, you need to update the name of company on various places such as the name board of the company, letterheads, business letters, invoices, bills of exchange and other documents. The name also needs to be updated on PAN, TAN, GST Certificate, MSME certificate, Bank Account etc.

    How should I choose a name for my Company?2021-10-31T13:44:14+05:30

    A unique name of a company must be reserved with the Ministry of Corporate Affairs (MCA). The name should qualify guidelines as prescribed by MCA. To know more about name approval guidelines, refer to our article – https://www.registrationarena.com/name-approval-guidelines-as-per-companies-act-2013/

    How many names can I submit for name reservation to MCA?2021-10-31T13:43:42+05:30

    Initially, you can submit 2 names for name reservation to MCA out of which 1 name will be approved based on availability. If the initial 2 names are rejected then one more chance of re-submission for applying fresh 2 names is provided. So, in total 4 names can be applied in a single application.

    Can Registration Arena help in changing the name of my company on MCA Portal as well as PAN, TAN, GST, MSME registrations?2021-10-31T13:43:13+05:30

    Yes, we can provide you a complete package for changing the name of your company on MCA Portal, GST Records, PAN, TAN, MSME etc.

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