{"id":50262,"date":"2024-05-01T10:17:41","date_gmt":"2024-05-01T04:47:41","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=50262"},"modified":"2024-05-27T12:56:37","modified_gmt":"2024-05-27T07:26:37","slug":"alteration-of-name-clause-in-the-memorandum","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/alteration-of-name-clause-in-the-memorandum\/","title":{"rendered":"Name Clause Alteration in Memorandum: Detail Analysis"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In the corporate world, the legal framework is a significant part involved in the smallest amendment that can have a huge impact. One such aspect needs to be analyzed, which is an <\/span><b>alteration of name clause<\/b><span style=\"font-weight: 400;\"> in the memorandum.\u00a0 In the present article, we will explain the Company <\/span><a href=\"https:\/\/www.cagmc.com\/procedure-for-change-of-name-of-a-company\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">amendment of the name clause<\/span><\/a><span style=\"font-weight: 400;\"> in a memorandum. Understand the process with the corporate regulations.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-50265 size-full\" title=\"alteration of name clause in the memorandum\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1.png\" alt=\"alteration of name clause in the memorandum\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/05\/Alteration-of-Name-clause-in-the-Memorandum-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/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 Content<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"#for\"><span style=\"font-weight: 400;\">Necessary documents required for <\/span><b>alteration of name clause<\/b><span style=\"font-weight: 400;\"> in the memorandum<\/span><\/a><\/li>\n<li><a href=\"#to\"><span style=\"font-weight: 400;\">Step-by-step guidance to <\/span><b>alteration of name clause<\/b><span style=\"font-weight: 400;\"> in the memorandum<\/span><\/a><\/li>\n<li><a href=\"#involved\"><span style=\"font-weight: 400;\">E-forms Involved<\/span><\/a><\/li>\n<li><a href=\"#of\"><span style=\"font-weight: 400;\">Certain Companies may not allow <\/span><b>Alteration of the name clause<\/b><\/a><\/li>\n<li><a href=\"#takeaway\"><span style=\"font-weight: 400;\">Takeaway<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"for\"><b>Necessary documents required for the alteration of name clause in the memorandum<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Here are the necessary documents required for the <\/span><b>alteration of name clause<\/b><span style=\"font-weight: 400;\"> in the memorandum:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Affidavit signed by each company\u2019s directors;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.cagmc.com\/alteration-of-moa-charter-documents-of-the-company\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Amended Memorandum of Association (MoA)<\/span><\/a><span style=\"font-weight: 400;\"> and Alteration of Association (AoA);<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Board Resolution;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Original copy of Special Resolution, which is certified;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Notice for <\/span><a href=\"https:\/\/www.cagmc.com\/extraordinary-general-meeting-under-companies-act-2013\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Extraordinary General Meeting (EGM),<\/span><\/a><span style=\"font-weight: 400;\"> along with the attendance sheet, proxy form, and the explanatory statement;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Minutes of EGM<\/span><\/li>\n<\/ul>\n<h2 id=\"to\"><b>Step-by-step Guidance for alteration of name clause in the Memorandum of Association (MOA)<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Step-by-step <\/span><span style=\"font-weight: 400;\">procedure for <\/span><b>change of name of company under Companies Act, 2013<\/b><span style=\"font-weight: 400;\"> in the memorandum:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Need to pass a <\/span><span style=\"font-weight: 400;\">Board resolution<\/span><span style=\"font-weight: 400;\"> for application of change of name where we can provide maximum 2 names;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Application of name clause alteration is submitted to the <\/span><span style=\"font-weight: 400;\">Ministry of Corporate Affairs (MCA) V3 Portal<\/span><span style=\"font-weight: 400;\">, which is for change in name only. The Company needs to mention CIN along with the reasons for the adoption of new names, which is mentioned in the board resolution of the existing company applying for name alteration.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">After filling in the necessary details, submit the same. Then pay Rs. 1000\/- fee to the <\/span><a href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/home.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">MCA government<\/span><\/a><span style=\"font-weight: 400;\"> only. One re-submission is permitted for it, in case the names are not as per the rules.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Intimation by the side of MCA will come within three to four days of application, whether the names are approved or not. Then the company has to take action accordingly. In case the name provided by the company is not approved, the company has to re-apply for the same and resolve the discrepancy received by the government. In ase the names are approved then the company needs to follow further steps.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The government-approved names are valid for 60 days from the approval date.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Company needs to conduct an EGM and pass a special resolution for the alteration of name, File form MGT-14 form within 30 days of passing a special resolution.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Along with <\/span><span style=\"font-weight: 400;\">MGT-14 e-form<\/span><span style=\"font-weight: 400;\">, the Company needs to file another form INC-24 within 30 days of passing a special resolution.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Further, when Form INC-24 is approved, the company will receive the intimation form from the Ministry, along with the new altered name.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<h2 id=\"involved\"><b>E-forms Involved<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Here are two e-forms required for the <\/span><b>alteration of the name clause of the memorandum of association:<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">INC-24<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MGT-14<\/span><\/li>\n<\/ul>\n<h2 id=\"of\"><strong>Certain Companies may not allow Alteration of the name clause<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">There are certain Companies, which are not allowed to alter the <\/span><b>name clause of the memorandum of association:<\/b><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies who have failed to pay or repay <\/span><span style=\"font-weight: 400;\">debentures,<\/span><span style=\"font-weight: 400;\"> matured deposits, or interest;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies who have not maintained financial statements dues or filed <\/span><a href=\"https:\/\/www.cagmc.com\/annual-return-and-reconciliation-in-gst\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">annual returns for filing<\/span><\/a><span style=\"font-weight: 400;\"> with the RoC.<\/span><\/li>\n<\/ul>\n<h2 id=\"takeaway\"><b>Takeaway<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Through the article, we got to know about the <\/span><b>alteration of the name clause<\/b><span style=\"font-weight: 400;\"> in a memorandum. From managing compliance with regulatory structure to protecting brand recognition, and market reputation, every facet of change in name clause demands meticulous attention and a strategic way. If failure to navigate then it puts the business at risk, ranging from legal disputes to erosion of shareholder trust. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the corporate world, the legal framework is a significant part involved in the smallest amendment that can have a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50265,"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":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alteration of Name Clause in the Memorandum - Goyal Mangal &amp; 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