Changing a company’s name constitutes a significant alteration, requiring amendments to the Memorandum of Association and Articles of Association. As per the Companies Act 2013, a company can change its name by passing a special resolution in a general meeting and obtaining approval from the Registrar of Companies (RoC) and the Central Government.
When a company changes its name, it remains the same entity, and the alteration does not create a new company. The established company continues its operations under the new name, and this change does not impact:
Rights or obligations of the company
Any legal proceedings involving the company
Free Consultation by Expert
First Name
Last Name
Email
Phone Number
How can we help you?
REASONS FOR CHANGING A COMPANY NAME:
Voluntary Change: The company board may decide to change the name voluntarily, subject to fulfilling necessary conditions.
Change in Business Activity: A change in business activities may prompt a name change to reflect new or additional business objectives. The Memorandum of Articles should also be updated to reflect this change.
Marketing or Rebranding: Companies may change names for marketing reasons, effective brand positioning, or to align with current trends.
Change of Ownership: A change in ownership often leads to a change in the company name to reflect new management authority and for branding purposes.
Avoiding IPR Issues: A company might change its name to reinforce its trademark or copyright, or to avoid potential intellectual property conflicts.
Compliance with RoC Direction: RoC may direct a name change following a complaint by another company claiming priority of name or trademark usage.
Capitalizing on Product/Service Popularity: Businesses may rename themselves based on the popularity of a specific product or service.
PROCESS OF CHANGING A COMPANY NAME:
Passing Board Resolution: A board meeting is held to pass a resolution authorizing a Director or the Company Secretary to check name availability with MCA and call an Extraordinary General Meeting (EGM) for passing a special resolution.
Checking Name Availability: The authorized person checks the availability of the new name through the RUN (Reserve Unique Name) facility of MCA.
Passing Special Resolution: An EGM is convened to pass a special resolution for changing the name and amending the Memorandum of Association and Articles of Association.
Applying to Registrar: A special resolution is filed with the RoC within 30 days, along with Form MGT-14 containing details about the special resolution.
Filing INC-24: After filing MGT-14, INC-24 is filed with the RoC to seek approval from the central government for the name change.
Issuance of Certificate of Incorporation: If satisfied, the RoC issues a new certificate of incorporation, completing the name change process.
DOCUMENTS REQUIRED FOR CHANGE OF COMPANY NAME:
TIMELINE FOR CHANGE OF COMPANY NAME:
Approximately 10 to 15 working days are required for multiple departmental approvals.
COMPLIANCES AFTER CHANGE OF COMPANY NAME:
After receiving the new certificate of incorporation, the company must update its name in various documents, including the common seal, bank accounts, tax authorities, website, social media, statutory registers, contracts, and licenses.
© Copyright LawTech Immigration 2023. All Rights Reserved