Change Name of Company

Name: An Identity of the Company

Change Name of the Company is its identity throughout its span of life well before and constructed in such a manner that stay sustainable with the future growth in Company. Companies Act regulates the naming process for the Company right from selecting it to any changes made .
Certain do’s and don’t while selecting the along with the procedure to change the name is briefly elaborated in this article.

Guidelines as per Companies Act While Naming The Company

Companies Act 2013 prescribe the conditions related to naming the Company whether it is Private Limited, OPC or Public Limited. Following are the conditions while selecting the name for the Company:

• • • • • • • • • • • • MCA ensures the name apply doesn’t resemble the name already register as a company or trademark. Mere joining the separate words or using the plural version of the existing name doesn’t make it unique.
                      • MCA restricts the names which are too general, such as Cotton Company Private Limited
                      • The name of the Companies start with the name of the person, for instance, Ankita Private Limited.
                      • The propose name undesirable if it violets the following conditions:

The name select for the Company  align with the objects of the Company.If the Company is incorporate to engage in the business of providing financial services such as chit fund, financing, leasing, etc. indicate such activities in its name.

The name  include the words that indicate any constitution or any legal person such as, LLP, Trust, HUF, etc.The last words of a Private Company  end with Private Limited, One Person Company with OPC Private Limited, and the Public Company end with the word Limited.

                 Procedure of the Change in Company

Following is the step by step procedure to be follow by the Company willing to change its name:

• Conduct Board Meeting: The propose name  discuss by the directors of the Company. Notice of 7 days is issue to the directors to conduct the board meeting to pass the necessary resolution for the approval of name change. Following resolutions are pass in a board meeting:
• Check The Name Availability: Company  check the name for its availability through MCA. It  check  the same name is register as a trademark or as a company from the drop-down menu of “Public Search of Trademark” and “Check Company Name”.
• Apply Online For Name Approval: After the name is check and the same is available, it  apply through new web service RUN. Up to two names  apply through this form with  fee of INR 1000. In case the Company is changing its name  attach the board resolution for authorizing the same as an attachment to this form. After thorough scrutinizing the application, ROC either approves the name or puts it to resubmission. The name approve by ROC remains valid for 20 days from such approval.
• Conduct Extra-Ordinary General Meeting: After the name is approv by ROC, and the name approval letter is receive by the Company,  and convene the EGM to pass the necessary Special Resolution for approval of name change and making amendment to MOA & AOA.
• Approval Of Central Government: Company has to take the approval of the Central Government for the name change and alteration in MOA by filing form INC- 24. Copy of minutes of EGM in which the Special Resolution  attached to this form.
• New Certificate Of Incorporation: After the process of name change is complete, ROC  issue the new COI with the amend name mention on it. The new name becomes effective the issuance of new COI.

        Restrictions on Change Name of Company

Rule 29 of Companies Rules 2014 specifically prohibits the following companies from changing the name:

• A company that  default to file an annual return on time
• The Company which  fail to repay the mature deposit
• A company that default in repaying mature debentures
• Company  not pay or default in paying the interest on deposit or debentures

                                  Conclusion

Name of the Company is its identity throughout its span of life well before and construct in such a manner that stay sustainable with the future growth in Company. Companies Act regulates the naming process for the Company right from selecting it to any changes made thereafter.

Companies Act 2013 prescribes the conditions related to naming the Company whether it is Private Limited, OPC or Public Limited. Following are the conditions which have  in mind while selecting the name for the Company:

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