Updated on July 06, 2024 06:08:54 PM
Changing the name of a company can be an exciting endeavor, often 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 can be changed anytime after the incorporation, but there are several compliances that need to be followed for changing the name of a company.
Professional Utilities can help change the name of your company with ease, due to years of experience in company incorporation and filing compliances.
The possible circumstances for change in name of a company are listed below:
The steps and procedure of change in name of a company are:
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 associated with the name of any government undertaking
The next step is to check for the name availability of the new name of the company. A required form needs to be filed with the registrar of companies with the proposed name. The proposed name must be unique and must follow all the rules and naming conventions as given by the MCA.
The event of change in name of the company must be approved by the Board of directors. The process of Board approval must go through proper standards mentioned 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.
After getting confirmation from the Board of Directors regarding the name change of the company, the application for the name change can be made through the RUN(Reserve Unique Name) facility by the Ministry of Corporate Affairs.
After the application of name change, the approval needs to be taken 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.
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 taken from the shareholders regarding changing the 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.
There are certain compliances that are applicable after the name change of the company:
Changing the name of a company requires a long legal process which can be done easily by a practising professional. We have a team of professionals who can file all the necessary compliances for a company name change. Contact our team to discuss the further process of company name change.
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 Professional Utilities.
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At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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As per the Companies Act, 2013, there is a need to pass a special resolution in the Board meeting regarding the name change of the company. Apply for name change and receive approval from ROC and central government.
Once the special resolution of the company is passed, the special resolution and application for the name change must be filed with ROC.
The company needs to update the PAN and TAN with the new name.
While filling the RUN form the company needs to submit two proposed names of the company.
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