Direct Tax Services
Audit
Consulting
ESG Advisory
RBI Services
SEBI Services
IRDA Registration
FEMA Advisory
Compliances
IBC Services
VCFO Services
Growing
Developing
ME-1
ME-2
EU-1
EU-2
SE
Others
Select Your Location
The name gives an identity to an entity. Every Company is known by its name. The Memorandum of Association (MOA) of the Company contains the clauses like Name clause, Registered Office clause, Object Clause, Liability Clause, Capital Clause. By altering the MOA of the Company one can change the Name Clause. There can be several reasons to alter the name of the company such as ownership change, diversification of business activity etc. in this article we will learn the procedure to be followed for change in name clause.
Table of Contents
The Very first stage for change in name of the Company is to decide the proposed new name. One has to decide the New Name of the Company considering many factors like availability of name under MCA, no trademark is being prejudiced etc. One has to consider the provisions of the Companies Act 2013.
You can check the name availability under MCA search name tab.
After discussion on New Name, now Board of Directors has to decide the reasons for such change. Also, they need to decide six proposed new name for a change. The name change requires Board approval at Board Meeting wherein the Board has to authorize one Director to file an application with ROC for the name change.
As per the provisions of the Companies Act, 2013, another step is to file an application for a name change. The Company needs to file an application in e-form INC-1 along with fees to ROC. The Company can provide 6 alternative names.
The Company needs to attach Certified True Copy of Board Resolution in e-form INC-1. On satisfaction, ROC may approve the proposed name of the companies. If ROC is not satisfied same can be asked for resubmission along with the reason for not approving.
The newly approved name is available for 60 days from the date of approval. Kindly note that the approval is for only the name availability not for the change in name.
Next step after approval of availability of name is convening a Board meeting. The Board of directors has to approve the next General Meeting to get approval from the Shareholder for change in the existing name of the Company to new available name approved by ROC.
In Board Meeting Board of Directors shall approve the notice for calling a general meeting, and authorize one director to comply with the provisions of the Companies Act 2013.
Amendment to MOA requires approval form Shareholder. Next step is to get approval from shareholder by passing a special resolution. The amendment shall be in accordance with the provisions of Section 13 of the Companies Act 2013.
After the approval of shareholders, next step is to file e-form MGT-14 for amendment or change in MOA of the Company within the 30 days from the passing a special resolution.
E-form MGT 14 shall contain the following documents attached with:
On satisfaction Registrar of Office shall approve the e-form MGT-14 by giving intimation to the Companies about approval.
After the approval of Form MGT-14, next step is to file e-form INC-24 to give effect to the amendment. INC-24 shall be filed within 30 days from the date of the general meeting to obtain approval for change in name from CG which power is now delegated to the ROC.
E-for INC 24 shall contain the following attachments:
On satisfaction of ROC shall grant its approval for change in name. ROC shall issue the new certificate of incorporation with the new name of the Company. The company can use its new name after completing all the legal formalities.
As per the rule 29 of the Companies (Incorporation) Rules, 2014, the following defaulting Company is not allowed to change the name clause:
After compliance with the above provisions, the Company’s can proceed with the change in name.
Also Read: What is The Process of Company Name Change as per Companies Act 2013?
Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.
Many investors use fixed deposits as their primary investment vehicle. Investors with a high-ri...
The main idea of CDS, which was initially to give banks a way to transfer credit exposure, has...
Black money has been the subject of heated political debate in India for a long time. Successiv...
The Apex Court pronounced a judgement in the case titled Tata Motors Vs The Brihan Mumbai Elect...
Since economies are moving towards digitalisation and making it feasible to conduct transaction...
The Alternative Investment Funds (AIFs) Pro-rata and Pari-Passu Rights Proposal Consultation Pa...
The Financial Action Task Force, i.e. FATF (the Force), is the global money laundering and terr...
Advance tax refers to the payment of the tax liability before the end of the relevant financia...
On 11.12.15, the Hon’ble Delhi High Court (HC) pronounced a landmark judgement in the case ti...
Money laundering can be defined as the process of illegal concealment of the origin of money ob...
Are you human?: 6 + 9 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Due to various business reasons, it may be required to change the name of LLP or even on the directions of the cent...
09 Aug, 2017
According to the Companies Amendment Act 2017, a Company can raise funds or Capital mainly in three ways: (1) Priva...
12 Apr, 2020
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!
Chat on Whatsapp
Hey I'm Suman. Let's Talk!