Compliance Checklist for Change in Name of a Company

Changing the name of a company an exciting endeavor, driven by rebranding initiatives or shifts in business focus. However, it’s crucial to navigate the compliance requirements associated with change in name of a company to ensure a smooth transition while adhering to legal obligations.

The name of a company  change anytime after the incorporation, but there are several compliances that need to be follow for changing the name of a company.

Montrix  help change the name of your company with ease, due to years of experience in company incorporation and filing compliances.

Circumstances for change in name of a company

The possible circumstances for change in name of a company are listed below:

• Due to Brand confusion.
• Due to change in the industry or the product line.
• Due to the length of name of the business.
• Disliking the name.
• Name is irrelevant to the industry of operation.

Procedure of Change in Company

The steps and procedure of change in name of a company are:

Step-1: Check for Applicable provisions with respect to name Change

The provisions related to name change of a company are given in Section 4 of the companies Act, 2013. In case of a private limited company, the company name must end with “Pvt Ltd” and for public limited it must end with “Ltd” at the end. Any word in the name of the company must not be associate with the name of any government undertaking

Step-2: Application for Name Availability

The next step is to check for the name availability of the new name of the company. A required form needs to be fill with the registrar of companies with the propose name. The proposed name must be unique and must follow all the rules and naming conventions as given by the MCA.

Step-3: Board Approval

The event  must be approve by the Board of directors. The process of Board approval  through proper standards mention in Section 173 of the Companies Act. It is important to file all the financial returns and clear all the dues before applying for a company name change.

Step-4:Application for Name Change

After getting confirmation from the Board of Directors regarding, the application for the name change  made through the RUN(Reserve Unique Name) facility by the Ministry of Corporate Affairs.

Step-5: Name Approval from central Government

After the application of name change, the approval needs to be take from the central government. The government will review the uniqueness and check if the name is chosen considering the naming conventions of selecting a name.

Step-6: Shareholder Approval

The change in the name of the company is subject to alteration in the MoA of the company. Therefore before amending MoA an approval needs to be take from the shareholders .

Step-7: Registration of New Name of the Company

After validation of e-forms and attachments, the ROC will register the new name of the company and issue a new Certificate of Incorporation in Form INC-25 of the company.

Compliances after Name Change

There are certain compliances that are applicable after the name change of the company:

• Change the new name of every document such as Memorandum of Association.
• Printing of New names on all the Print work such as Letterheads, Bills, documents etc.
• Display of new name in the office premises.
• Bank accounts and licenses need to be updated with the new name.

                      How Montrix can help you?

Changing the name of a company requires a long legal process which  done easily by a practising professional. We have a team of professionals who  file all the necessary compliances for a company name change. Contact our team to discuss the further process.

                                             Conclusion

Changing the name of a company can be a complicated process as it involves various steps and procedures to be followed. There are various compliances for changing the name of a company which strictly needs to be followed by every company.

If you need any assistance in changing the name of a company, then contact our team at Montrix.

             Why Monitrix?

At Monitrix, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.