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What is Change of Company Name


 

A company’s name can be changed at any time after its incorporation. It being an entity regulated by law, it has to follow a specific process provided by the Companies Act, 2013 for a change of company name. The process includes conducting board meeting and member’s meeting for their respective consent, which will be followed by name reservation and approval from Central Government for said change. Fresh Certificate of Incorporation will be issued by RoC in new name after updating the Register of Companies. The company name change does not impact the existence of the company, which leaves all the assets and liabilities unaffected.

Benefits of Change of Company Name


 

Voluntary Change

The directors or the shareholders may voluntarily decide to change the business name mutually for any justified reason. Names can be used to reflect the vision or any characteristic of the company. To make the name relatable and easy for the consumer can also be a reason to change business name.
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Change in Business Objective

Change of comany name may be required due to change of business objective. If the name does not truly reflect the altered objective, it can be changed in line with the objective. The company must apply for a change if the Registrar has directed to do so in such case.
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Enhance Brand Value (Rebranding)

Name assumes the brand value of the company and intention to improve the brand value is often a reason to change of company name. Also, industries where trends change over a period of time, an appropriate name can be chosen to be in line with the trend and create a distinct identity. Change of company name can prove to be a good marketing strategy to enhance brand value.
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Discard boundaries assumed by name

By use of words representing geographical region or offerings, the name defines the boundary of operations. Expansion by capturing wide market includes demands removing boundaries assumed by the name. Further, if the name has become irrelevant to products or services offered it must be changed to target the right audience.

Documents required for change of company name


 
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Digital Signature Certificate

DSC of one of authorised director to be provided
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MoA & AoA

A copy of latest amended MoA and AoA of the company
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CoI

Certificate of Incorporation of company to be provided
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PAN Card

Copy of PAN card of the company to be provided

Steps to Change of Company Name with CCA

1. Fill the form given on the right

2. Select your package

3. Fill the company details

4. Pay the amount & done

Once you done, our expert will contact you.

 

 

Change of Company Name (FAQs)


 
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.
 

More Questions?

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More Questions?

Contact us for additional assistance