{"id":40254,"date":"2023-01-03T16:10:48","date_gmt":"2023-01-03T10:40:48","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=40254"},"modified":"2024-05-31T14:47:07","modified_gmt":"2024-05-31T09:17:07","slug":"procedure-for-change-of-name-of-a-company","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/procedure-for-change-of-name-of-a-company\/","title":{"rendered":"Change in Name Clause of Company under Companies Act, 2013"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-40285 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013.png\" alt=\"Procedure for change of name of a Company\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2023\/01\/change-in-name-clause-of-company-under-companies-act-2013-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/>The Company&#8217;s name is its identity throughout its lifetime should be well thought out and constructed to be sustainable with the future growth of the company. The Companies Act governs the process of naming a company from its selection to any changes made thereafter. Let us discuss the procedure for the change of name of a Company.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<p style=\"text-align: justify;\"><b>Table of Contents<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"#of\"><span style=\"font-weight: 400;\">Changing of Name of the Company<\/span><\/a><\/li>\n<li><a href=\"#for\"><span style=\"font-weight: 400;\">Documents required for the company name change<\/span><\/a><\/li>\n<li><a href=\"#name\"><span style=\"font-weight: 400;\">Company name change procedure<\/span><\/a><\/li>\n<li><a href=\"#change\"><span style=\"font-weight: 400;\">Company name change timeline<\/span><\/a><\/li>\n<li><a href=\"#on\"><span style=\"font-weight: 400;\">Restrictions on change of company name<\/span><\/a><\/li>\n<li><a href=\"#the\"><span style=\"font-weight: 400;\">Compliance after the company name change<\/span><\/a><\/li>\n<li><a href=\"#final\"><span style=\"font-weight: 400;\">Final words<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"of\"><b>Changing of Name of the Company<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Changing the name of the company represents a significant change, as the memorandum of association and articles of association need to be changed. Under the Companies Act, 2013, a company can change its name by passing a special resolution in a general meeting and obtaining the approval of the Registrar of Companies (RoC) and the Central Government.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">However, if the company name is changed, this will not result in the creation of a new company or a new entity. The company will then continue its activities under the new name. Therefore, changing the company name will not affect the following:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rights or obligations of the company<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Legal proceedings by or against the Company<\/span><\/li>\n<\/ul>\n<h2 id=\"for\"><b>Documents required for the company name change<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In addition to the documents to be submitted with MGT-14 and INC-24, the following documents are required:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Certificate of Incorporation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Changed MOA and AOA<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">List of shareholders and directors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital signature of the authorized director<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Proof of the company&#8217;s registered address<\/span><\/li>\n<\/ul>\n<h2 id=\"name\"><b>Company name change procedure<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following is a step-by-step procedure for a company wishing to change its name to follow:<\/span><\/p>\n<p><b>Conducting Board Meetings: <\/b>The proposed name will be discussed by the Company&#8217;s executives. Board members are informed of a period of 7 days to conduct a board meeting to pass the necessary resolution to approve the name change. The following resolutions are adopted at the board meeting:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Authorize the company secretary or director to use the ROC to confirm the availability of the chosen name.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Set the date, time, and place of the extraordinary general meeting to approve the new name after its approval and to amend the articles of association. The company must remember that no two companies can be registered with the same name.<\/span><\/li>\n<\/ul>\n<p><b>Check name availability: <\/b><span style=\"font-weight: 400;\">The company will verify title availability through MCA. You can check whether the same name is registered as a trademark or as a company from the drop-down menu &#8220;Public Trademark Search&#8221; and &#8220;Check Company Name&#8221;.<\/span><\/p>\n<p><b>Online Request for Name Approval: <\/b><span style=\"font-weight: 400;\">After the name is checked and available, it can be used through the new RUN web service. Up to two names can be entered through this form with a prescribed fee of INR 1000. In the event of a company name change, the resolution of the board of directors on its authorization shall be attached as an attachment to this form. After a thorough review of the application, the ROC either approves the name or resubmits it. A name approved by the ROC remains valid for 20 days from such approval.<\/span><\/p>\n<p><b>Hold an extraordinary general meeting: <\/b><span style=\"font-weight: 400;\">After the ROC approves the name and the company receives the letter of approval with the name, it will convene an extraordinary general meeting to pass the necessary special resolution to approve the name change and execute amendments to the MOA and AOA.<\/span><\/p>\n<p><b>Filing with ROC: <\/b><span style=\"font-weight: 400;\">Within 30 days of the EGM, file a special resolution with the ROC in Form MGT-14 (the form is available on the MCA official website and can be downloaded as a zip file) along with the following documents attached to the form:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CTC special resolution passed<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Notification of MVH together with an explanatory statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Changed MOA<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Changed AOA<\/span><\/li>\n<\/ul>\n<p><b>Central Government Approval: <\/b><span style=\"font-weight: 400;\">The company must obtain the approval of the Central Government for the change of name and change in the MOA by filling out the INC-24 form. A copy of the minutes from the extraordinary general meeting at which the special resolution was approved will be attached to this form.<\/span><\/p>\n<p><b>New Certificate of Incorporation: <\/b><span style=\"font-weight: 400;\">Once the name change process is complete, the ROC will issue a new COI with the modified name appearing on it. The new name will take effect from the issuance of the new COI.<\/span><\/p>\n<h2 id=\"change\"><b>Company name change timeline<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The time required to change the company name is approximately 10 to 15 working days as it requires approval from several departments.<\/span><\/p>\n<h2 id=\"on\"><b>Restrictions on change of company name<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Rule 29 of the Companies Rules 2014 specifically prohibits the following companies from changing their name:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A company that did not file an annual return on time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A company that has defaulted on a deposit due<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A company that has defaulted on bonds due<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The company has not paid or paid interest on the deposit or bonds.<\/span><\/li>\n<\/ul>\n<h2 id=\"the\"><b>Compliance after the company name change<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Once the RoC issues a new certificate of incorporation, the new name of the company must be mentioned in all copies of the MOA and AOA. The company must also make changes and indicate its new name in the following documents:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Common Seal of the Company and Official Seal of the Company<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bills of exchange and promissory notes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Company bank account name<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue authorities, EPF, and ESI departments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Company websites and social media accounts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.cagmc.com\/how-to-apply-for-instant-pan-card\/\" target=\"_blank\" rel=\"noopener\">Company PAN<\/a> and TAN<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Corporate letterheads, business cards, etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Statutory registers of the company<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employment and commercial contracts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Update business licenses or permits<\/span><\/li>\n<\/ul>\n<h2 id=\"final\"><b>Final words<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The name of the company is its unique identity and the same is also found in the first clause of the partnership agreement (also known as the name clause). Company management wishing to change the company name will need the approval of its shareholders and the approval of the CRC (MCA) and ROC. The name change clause is set out in Sections 13(2) and 13(3) of the <a href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/acts-rules\/companies-act\/companies-act-2013.html\" target=\"_blank\" rel=\"noopener\">Companies Act 2013<\/a>. The name change has no impact on its legal entity or its existence as a legal entity. It will not result in the creation of a new company or entity.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Company&#8217;s name is its identity throughout its lifetime should be well thought out and constructed to be sustainable with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":40285,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[70],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - 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