Company Name Change
Company Name Change can be made at anytime as per the will of management and stakeholders of the company. Company name change can be made as per the provisions of Companies Act 2013 and subject to company name availability.
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Once a company is incorporated before the Registrar of Companies it enjoys a unique name followed by CIN (Corporate Identity Number). Company incorporated is always going concern, it means it continue to carry on the business as mentioned in the objectives of the company indefinitely. Thus, at later stage there is always an option available for change the name of the company. Changing the name of the company will not affect the legal status of the company and its activity remain continue as earlier, any legal proceeding initiated in old company name will continue without impacting the status of company or in its name. The age of company will remain to consider from the date of its first incorporation without impacting company name change. Although the decision for changing the name of the company is completely rest in the hands of management / shareholders, some of the reasons which attract the decision for change in the name of the company are:
- Change in the objectives of the company
- Change in the management of the company
- Change in the place of location of business (if name include any word specifying place)
- Branding / Rebranding of the products of the company
- Scaling up of company from domestic level to multi-national level (MNC)
- Any other reason as considered by the management / shareholders
Procedure for name change of the company
- A board resolution must be passed in a properly convened Board meeting regarding name change and to authorize any director of the company to seek name availability on MCA portal and to apply for the same.
- Application shall be Registrar of Companies through MCA Portal for name reservation along with supporting documents such as Board Resolution for name change.
- Once the name is approved by Registrar of Companies, the company must convene an Extra ordinary General Meeting (EGM) to pass resolution for company name change and to alter the articles of association (AoA) and Memorandum of association (MoA) of the company.
- Once the special resolution for alteration in Articles of Association (AoA) and Memorandum of Association (MoA) is passed in the new name of the company, then the company shall proceed to file application for approval of registrar of companies through MCA portal by paying requisite fee.
- After verifying all the particulars filed by the company, the registrar shall issue fresh certificate of incorporation indicating new name of the company.
- Company may proceed for name change in Income tax department / banks / GST based upon freshly issued certificate of incorporation of name change.
With the ever changing Law and regulatory requirements, we keep on track and advise the same on timely manner in order to ensure proper compliance. We at ReturnFilings.Com will understand the purpose of your company name change and thereafter will provide you detailed analysis mentioning the law requirement and compliances need to fulfil in order to provide company name change related services economically and efficiently. We at ReturnFilings.Com will provide you details of regulatory filings in order to ensure proper smooth and timely compliances. We at ReturnFilings.Com are determinate to provide end to end solution; our motto is you concentrate on your business while we at ReturnFilings.Com will take care of all your compliances need.