Explore all the details you need about Company Name Change, tailored for your needs.
Changing a company’s name is a significant strategic decision governed by the Companies Act 2013 in India. This process reflects a company’s evolving identity, market presence, or corporate strategy and can have a profound impact on customer perception and branding.
Solocorp provides expert assistance for your company’s name change process, ensuring a smooth and legally compliant transition. Our team ensures that all necessary legal steps are followed, providing you with a hassle-free experience as you navigate through the required paperwork and official procedures.
Under the Companies Act 2013, a company can change its name through a special resolution passed in a general meeting, subject to approval from the Registrar of Companies (RoC) and the Central Government. Importantly, this name change does not create a new company or entity. The existing company will operate under its new name.
Changing a company's name is governed under Section 13(2) of the Companies Act 2013, requiring a special resolution and approval from the Central Government (delegated to the Registrar of Companies). The process ensures that the new name complies with regulations and does not violate any existing laws.
There are various reasons a company may contemplate changing its name. Some common motives include structural changes, marketing strategies, and legal compliance.
When a private limited company becomes public through an IPO, it may change its name as part of the restructuring process, complying with regulatory requirements.
A public limited company may opt to change its status to a private limited company. This involves altering its name and restructuring its operations, often to reduce compliance costs.
Companies may choose to change their name voluntarily for reasons such as rebranding, realigning business activities, or improving brand image.
When a company's business activities evolve, it may modify its name to reflect its new direction. This may also require updates to its Memorandum of Articles.
Changing the name for marketing or rebranding purposes helps the company align itself with trends, reposition its brand, and enhance its image in new markets.
A change in ownership often leads to a name change to reflect the authority of the new management and to serve branding purposes.
Companies may alter their name to strengthen their intellectual property rights, avoid conflicts, or enhance trademark protection.
If the RoC issues a directive due to a name conflict or trademark issue, the company must comply with the name change order.
Companies may rebrand to capitalize on the popularity of a specific product or service by aligning the company name with that product.
To successfully change a company's name, several key documents need to be submitted as part of the process. These include attachments for forms MGT-14 and INC-24, as well as other essential documents.
Changing the name of a private limited company involves a systematic process that includes several key steps to ensure compliance with regulatory requirements.
Initiate the process by convening a board meeting. During this meeting, the board of directors will decide to change the company's name. They will also authorize a Director or the Company Secretary (CS) to verify the availability of the new name with the Ministry of Corporate Affairs (MCA). Additionally, the board will set the groundwork for conducting an Extraordinary General Meeting (EGM) to pass a special resolution.
The authorized director or company secretary will follow these steps to ensure the chosen name is available and compliant with regulatory requirements: 1. Reservation Request: The authorized representative will initiate a request for the reservation and approval of the new name using the RUN (Reserve Unique Name) facility provided by the Ministry of Corporate Affairs (MCA). 2. Availability Check: Verify the availability of the proposed name. 3. Confirmation from RoC: The Registrar of Companies will confirm the availability of the requested name. 4. Compliance Check: Ensure the proposed name adheres to regulatory guidelines.
After obtaining confirmation from the RoC that the proposed name is available and compliant, the company must proceed with the following steps: 1. Calling an Extraordinary General Meeting (EGM): Convene an EGM to discuss and vote on the proposed name change. 2. Passing a Special Resolution: A special resolution will be proposed during the EGM to approve the name change and amend the company's Memorandum and Articles of Association. 3. Approval by Shareholders: The resolution must be passed by the majority of shareholders present at the meeting. 4. Filing with RoC: File the passed resolution along with the altered Memorandum and Articles of Association with the RoC. 5. Obtaining RoC Approval: The RoC will approve the name change after reviewing the submitted documents.
After passing the special resolution, the company must apply for the name change approval from the Registrar of Companies (RoC). 1. Filing Form MGT-14: File Form MGT-14 within 30 days of passing the special resolution, along with the required documents. 2. Filing Form INC-24: File Form INC-24 with the RoC to seek approval from the Central Government for the name change.
Once the RoC reviews the documents and is satisfied, they will issue a new Certificate of Incorporation reflecting the updated company name. This marks the completion of the name change process.
After receiving the new certificate of incorporation from the RoC, the company should promptly update its name in various documents and records.
Update the Memorandum of Association (MOA) and Articles of Association (AOA) to reflect the new company name.
Ensure that the company’s common and official seals are updated with the new name.
Modify all promissory notes and bills of exchange issued by the company to display the new name.
Update the company’s bank accounts with the new name.
Notify tax authorities, the Employee Provident Fund (EPF), and the Employees’ State Insurance (ESI) department about the name change.
Update the company’s website and social media profiles to reflect the new name.
Update the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) with the new company name.
Ensure that all company letterheads, business cards, and other stationery are updated with the new name.
Update the statutory registers to reflect the new name of the company.
Modify employment contracts and business agreements to include the new company name.
Update any business licenses or permits to reflect the company’s new name.
Ready to rebrand your business with a new name? Let SoloCorp guide you through every step of the company name change process.
We provide comprehensive assistance to companies looking to change their names in India. With a team of experienced professionals and a deep understanding of the legal procedures involved, we can seamlessly guide you through the entire process.
Our experts ensure a smooth transition, handling all the legalities and compliance requirements.
Our team will discuss your current business situation and your desire to change the company name.
We will assist in preparing and filing all necessary documents with the regulatory authorities.
We handle the process of obtaining approval for your new company name from the relevant authorities.
Once approved, we update your company’s legal records and notify relevant stakeholders.