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Get your Private Limited Company’s Name changed today
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The first clause of the MOA contains the company’s name, which is its distinctive identification (also known as Name Clause). If the company’s management wishes to change the company’s name, it must obtain the consent of its shareholders as well as the approval of the registrar of companies. Team FirstFiling can assist you with changing the name of your business and make the process simple for you!
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There are numerous reasons for changing a company’s name, including a new branding strategy, mergers, amalgamations, a shift in commercial activity, and so on. In all circumstances, however, the method must be followed in the same way. The Companies Act of 2013 and its guidelines have established a clear and unambiguous mechanism for changing a company’s name. Because the company’s name appears on MOAs, AOAs, Pan cards, Tan numbers, GST registrations, and other documents, it must be changed if the name changes.[/vc_column_text][/vc_column][/vc_row][vc_row full_width=”stretch_row_content_no_spaces” content_placement=”middle” css_animation=”fadeInDown” row_space=”remove_padding_top” custom_background=”bg-theme” el_class=”bg”][vc_column][vc_empty_space height=”70px”][vc_column_text]
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When a corporation or LLP is in operation, there may be a variety of conditions that necessitate specialised reporting to various government departments. For example, a director’s or designated partner’s departure, a rise in authorised capital, re-issue and re-allotment of shares, share transfer, and so on. Frequently, firms are unaware of these reporting requirements and fail to meet them. As a result, they are subjected to excessive penalties and fees.
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Once the board of directors has decided on the new company name, the RUN (Reserve Unique Name) function is used to submit a request to the ROC for approval. A certified extract of the meeting of the board resolution including the resolution of the name change is also presented with the name approval application. Only if the new name is unique and not the same as or similar to an existing company, LLP, domain, or trademark may it be approved by ROC.
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After approval of the Name is received from the office of the registrar of companies, the next logical step is to seek approval of the shareholders of the company. The decision of shareholders can be taken only in a valid extraordinary general meeting. To convene an EGM, the directors must send notice to every shareholder of the company at least 21 clear days before the date of EGM. The notice of EGM must contain the agenda, draft of the proposed resolution to be passed as a special resolution.
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A special resolution is one in which more than 75% of the voting rights are used to make a decision. Once adopted by the EGM, the special resolution is presented to the ROC for approval. Within 30 days following the resolution’s passage, a certified copy of the resolution is filed in Form -MGT-14 with the necessary fee.
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Form INC-24 is used to file the application to change the company’s name, along with an altered copy of the MOA and AOA, a copy of the notice of EGM, and the special resolution. After the ROC is satisfied, a new Certificate of Incorporation is issued with the company’s new name.
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(All Inclusive)
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