Ask 4 Compliance | Name Change Of a Company
563
page-template,page-template-full_width,page-template-full_width-php,page,page-id-563,qode-quick-links-1.0,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,footer_responsive_adv,qode-theme-ver-11.0,qode-theme-bridge,wpb-js-composer js-comp-ver-4.11.1,vc_responsive

NAME CHANGE OF A COMPANY

Drop Your Query!

NAME CHANGE OF A COMPANY

A company desiring to change its name may do so in accordance with the provisions of Section 13 of the Companies Act, 2013. The section lays down that a company may, by special resolution and with the approval of the Central Government signified in writing, change its name. The power of the Central Government under Section 13(2) to approve change in the name has been delegated to Registrar of Companies. However, if the only change require dis the addition thereto or deletion there-from, of the word “Private”, consequent upon conversion of a public company into a private company or vice versa, no such approval of Central Government is required.

The name of a company can be changed by the promoters at any time after incorporation. Some of the major reasons for change of company name are business model change, change of promoters, rebranding, etc., To change the name of a company, shareholders’ approval is required along with approval from the Ministry of Corporate Affairs. The change of name of a company or LLP however has no impact on the legal entity or its existence. Hence, all assets and liabilities of the entity would continue, while only the name of the company would have been changed.

Change of company name requires passing of a board resolution, obtaining name approval from MCA, passing of a special resolution and applying for approval of new company name to the MCA. If the MCA accepts the application, a new certificate of incorporation is issued. After obtaining the new certificate of incorporation, changes must be made to incorporate and change the MOA and AOA of the company as well.

Our team of highly qualified professionals at Ask4compliance.com can help your business to Name Change of a Company as per provisions of the Companies Act, 2013.

Process & Timeline

8-12 days

Professional Fees

Rs. 7500

(GST, Government Fees and other Out of Pocket Expenses Extra)

Pay Now!

Find Company Name Availability

REASON FOR NAME CHANGE

  • Merger & Acquisitions: The main reason for Company’s name change is merger and acquisition. When two companies become one, they have to adopt one of the old names, combine the two or develop a new name.
  • Change in Core Business Activity: With the change in time, business changes name with to cope up with modern days requirements. Whenever a company recognises that the landscape of the industry changes it might have to change its core business and with it its name.
  • As a Part of Corporate Strategy: A Change of Name might be part of a change in Corporate Branding Strategy. For Example a company might decide to compete on the lowest price in the industry and change their name to a name that highlights good value for money.
  • To Suit Local Needs of Foreign Locations: Sometimes names could be much easier and consumer friendly (especially for internationally expanding companies where language barriers might cause problems).
  • Requirement of Changing Times: Company names are subject to fashion and might therefore have to be changed. Think for example of the dot.com bubble. After the bubble burst, many companies changed their name to names less associated with the digital hype. In more recent years there has been a tendency to “become more  Green” which has been reflected in the names of several companies around the world.

DOCUMENTS REQUIRED FOR CHANGE OF NAME

  • Altered Memorandum of Association (MOA)
  • Altered Articles of Association (AOA)
  • List of Proposed Names
  • Reason for Name Change
  • Board Resolution and EGM Resolution along with Explanatory Statements
  • Approval of Central Government for Change of Name

Free Consultation

Got questions? Request a call from an Ask 4 Compliance Business Advisor.