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Company Name Change
In the time of incorporation, a Business Entity is required to be registered with a Unique Name with the Ministry of Corporate Affairs (MCA) and the Registrar of Companies (ROC), which is known as the Registered Name for the particular Entity.
As per the provisions in Section 13 of the Companies Act of 2013, a company’s name can be changed at any time after its incorporation. It being an entity regulated by law, it has to follow a specific process provided by the Companies Act, 2013. The process includes conducting board meeting and member’s meeting for their respective consent, which will be followed by name reservation and approval from Central Government for said change. A company can easily change name after it has been incorporated. It can change company name in case of a change in business, ownership, management etc. Once a company change the name, there will not be any impact on its existence as a corporate entity.
ComplianceIndia helps you with the simplest way to Change Name of the Company.
Reasons for Company Name Change
1. The directors or the shareholders may voluntarily decide to change the business name mutually for any justified reason. To make the name relatable and easy for the consumer can also be a reason to change business name.
2. Change of name can prove to be a good marketing strategy to enhance brand value. Name assumes the brand value of the company and intention to improve the brand value is often a reason to change the name.
3. Changing the name of Company to follow the government order.
4. 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.
5. If the name has become irrelevant to products or services offered it must be changed to target the right audience.
Forms needs to be filed for Company Name Change
– E Form MGT – 14 within a period of 30 days from the date of passing of special resolution in GM with Registrar of Companies
– E Form INC – 24 within a period of 30 days (after MGT-14 approved by Registrar of Companies) from the date of passing of special resolution in EGM with Registrar of Companies on MCA portal.
How we Work?
Documents Required for Company Name Change
Our charges for filing of Change in the Company name starts from Rs. 1,999/-.
Frequently Asked Questions
1. What is the Company Name Change process?
A registered business entity in India can change or alter its existing name by following the guidelines stated by the Ministry of Corporate Affairs (MCA). This process is called the Company Name Change process.
2. Which approvals are required for company name change?
To effect the change in name, the company has to obtain following consent or approval:
– Consent from Board
– Consent from the members of the company
– Approval from concerned RoC
– Approval from Central Government
3. Can a business entity use the previous Name after registering a new one?
No. If a business entity registers a new Name from the Ministry of Corporate Affairs, the previously registered Name cannot be used by the entity further.
4. How to reserve new name for company?
Ministry has introduced a web form “RUN” (Reserve Unique Name) for reservation of new name of existing companies. The company can apply with 2 different names with its significance. The names should be unique and in accordance with the provisions.
5. Whether MoA & AoA is required to be altered?
Yes, MoA and AoA, both must be altered with the new name. The copy of the proposed alteration is filed in INC – 24.
6. Whether change of object can be processed simultaneously?
If the name change is made due to change in the main object, both the procedures can be carried on simultaneously. As the approval of the Government is involved, the period can vary based on the response and time taken by RoC.
7. Will the Registrar of Companies issue the Fresh name certificate after the name is changed?
Yes, the Registrar of Companies will issue a fresh certificate of incorporation after approval of all documents.