Change Company Name
Want to change your company name? EOB does it for you in a simple, smooth and hassle free manner.
Fee: Rs. 5000 (All Incl).
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Company Name Change
The Companies Act, 2013, allows a company to change it name at any time after its incorporation. However there are due processes to be followed. This includes, most importantly, a consent from the members of the Board, followed by selecting the alternate name for the company and reserving the name with the ROC and approval from the ministry. On completion of this procedure a new Certificate of Incorporation is issued with all the changes incorporated. This change does not have any operational impact on the business.
Some of the Possible reasons for Company Name Change
When there is a change in business objective or activities, the existing name may not fully reflect the business activity. In such cases a change of name may be considered. Some times the ROC may direct the company for the name change in line with their business activities as per the MoA
The Directors of the company may unanimously decide to change the name of the company for any justified reason. It may be to reflect the vision or the objectives of the company or driven by reasons keeping the customer in mind.
Many companies go for Name change in line with the brand image built by the company. Or sometimes even an acquisition of a new company may reflect in the business activities leading to a name change to enhance the brand value of the combined entity. Name change can also be driven my market necessities based on how the company expects the brand to be perceived in the eyes of the consumer.
There are instances where the name creates boundaries of operation. As the company expands, these limitations may not go well with the customer they focus on. Sometimes the name may not have a connect with the products or services sold. In such cases a name change is considered with due approval form the stake holders.
Documents required for Company Name Change
THE PROCEDURE
Procedure for Company Name Change
- Collection of basic Information & documents
- Checking company name availability and reserving the name
- Conducting Board Meeting and passing a resolution
- Preparation of documents relating to the application of change
- Documents presented for signatures.
- Filing application with MCA
- Approval and Issue of Certificate of Incorporation. FAQs
Which approvals are required for company name change?
To effect the change in name, the company has to obtain following consent or approval:
- Consent from Board
- Consent from the members of the company
- Approval from concerned RoC
- Approval from Central Government
FREQUENTLY ASKED QUESTIONS
Explore Change of Company Name
How to reserve new name for company?
The MCA has provided an option to reserve a company name through an online procedure. The name however has to be unique and as per the provisions of law.
When can the application for change be made?
Within 30 days of the shareholders consent the application for name change has to be filed. Relevant forms have to be filled and submitted for the same.
Is it mandatory for MoA and AoA to be changed?
The copy of the proposed alteration of the name in INC-24 should be included with the MoA and AoA and both copies (MoA and AoA) should have the changed name.
When should the application for PAN change be made?
After Issuance of the Certificate of Incorporation, the name change can be initiated in PAN and all other registrations.
What is the impact of company name change?
Once approval by the government, the change of name has to be communicated and updated in all other government registrations and documents. Your business stationery has to incorporate this change. In case there are any existing and prevailing contracts, the change of name should be ratified by the parties in contract.
Also note that for 2 years, the old name of the company should be carried and displayed along with the new name as a part of transition.
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