1 Which approvals are required for change of company name?
To effect the change in name, the company has to obtain following consent or approval:
1. Consent from Board
2. Consent from the members of the company
3. Approval from concerned RoC
4. Approval from Central Government
2Is there any restriction for change of company name?
There is no restriction provided for the change of company name, which may be the case for a Public company. The names chosen for application must be in conformity with the rules prescribed.
3How to reserve new name for company?
Ministry has introduced a web form “RUN” (Reserve Unique Name) for reservation of new name of existing companies. The company can apply with 2 different names with its significance. The names should be unique and in accordance with the provisions.
4When the application for change should be made?
The application for name change must be made within 30 days of obtaining the consent of members in General Meeting (held after reservation of name). Intimation of resolution is made in form MGT – 14 whereas the application for the name change is made in form INC – 24.
5Whether MoA & AoA is required to be altered?
Yes, MoA and AoA, both must be altered with the change of company name i.e. new name. The copy of the proposed alteration is filed in INC – 24.
6Whether change of object can be processed simultaneously?
If the name change is made due to change in the main object, both the procedures can be carried on simultaneously. As the approval of the Government is involved, the period can vary based on the response and time taken by RoC.
7 When will the new name of company be effective?
It will be effective only after issuance of a fresh Certificate of Incorporation. The concerned officer on his satisfaction of application made will issue a fresh CoI with a new name.
8When should the application for PAN change be made?
Company’s new name can be updated in PAN or any other registration after fresh Certificate of Incorporation is issued. Application to change PAN is included in the package.
9What will be the effect of changing company name?
After the change of name, the company has to update its name with all the ministries it is registered with. All the stationaries i.e. Business cards, letterheads, display board, etc. must be updated with a new name. An important change is ratification of contracts entered in the previous name. The parties to contract must ratify said contracts after adopting a new name.
10Do I need to display the old name with the new name of the company?
Yes. For a period of two years from change, wherever the company’s name is displayed, the previous name must also be displayed.