CHANGE IN THE PVT LTD COMPANY NAME
The name of the company can be changed by the promoters after incorporation. The change in the company name will not have any impact on the corporate entity or its existence. Therefore, all the assets and liabilities of the business would continue to exist, while only the name of the company has been changed. A company can change its name in case of change of promoters, business model change or rebranding. A company can change its name after the approval of shareholders in the general meeting & by making necessary filings with the Ministry of Corporate Affairs.
If the Ministry of Corporate Affairs (MCA) accepts the application, a new certificate of incorporation (CoI) will be issued. After obtaining the incorporation certificate, changes must be made to incorporate and change the MOA and AOA of the company as well.
CHANGE IN THE PVT LTD COMPANY NAME through Taxcure India
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CHANGE IN THE PVT LTD COMPANY NAME
Reasons for Change of Company Name
A company may decide to change its name for various reasons. Some of the common reasons are listed below
- Voluntary change of name
- Change in business activity
- For marketing or rebranding
- Change of ownership
- Avoid IPR issues
- Compliance with ROC direction
- Capitalising on the popularity of a service or product
- Process of Changing Company Name
- Passing board resolution
- Checking name availability
- Passing special resolution
- Applying to registrar
Compliances After Change of Company Name
- The common seal of the company and official company seal
- Promissory notes and bills of exchange
- Company bank account name
- Tax authorities, EPF and ESI department
- Company PAN and TAN
- Company letterheads, business cards, etc.
- Company statutory registers
- Employment and business contracts
- Update business licenses or permits
PROCEDURE FOR CHANGING THE COMPANY NAME
- The board must pass a resolution selecting the new name of the company. This new name must align with the guidelines given by the ROC.
- Get the approval from ROC in this regard.
- Once the ROC approves, the company can switch to its new name.
List of required documents for company name change
- COI
- MOA-AOA
- List of shareholders and directors
- DSC
- Proof of registered business address
FAQ
1 Is it possible to change your company name?
As per the Companies Act 2013, a company may change its name by passing a special resolution in the general meeting and receiving approval from the Registrar of Companies (RoC) and the Central Government
2 Why changing a company’s name is mostly unsuccessful?
Numerous factors can cause rebranding to fail. But far and away the biggest problem we’ve identified is not doing enough research. Companies are so focused on planning the design and promotion of their new brand that they cut corners and neglect market research.
3 What is the full form of ROC?
ROC (Registrar of Companies)
Good Information