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Company Name Change

Changing your company's name is a careful legal process that involves changing your company's registration and papers in accordance with the Companies Act 2013 rules. This process includes making special decisions, ensuring name uniqueness, and filling essential forms with the Registrar of Companies. It's important to hold board meetings, check name availability, and receive approval from the Ministry of Corporate Affairs. The process usually takes 10 to 15 working days and includes various offices to ensure accuracy and compliance. By following the suggested steps carefully, including getting a new certificate of formation, updating all relevant papers, and telling partners, you can smoothly move to your new company name without affecting your business operations or legal standing.

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Company Name Change Online

Changing your company's name is an important decision that can significantly impact its brand identity and market perception. Companies may change their names for various reasons, such as rebranding to align with new business directions, expanding into new markets, reflecting mergers or acquisitions, avoiding legal conflicts over similar names, or modernizing an outdated image.

In India, the process of changing a company's name is governed by the Companies Act, 2013, and involves several key steps. These steps include obtaining approval from the Ministry of Corporate Affairs (MCA) through the Reserve Unique Name (RUN) service, passing a special resolution in a general meeting, and filing the necessary forms, such as MGT-14 and INC-24, with the Registrar of Companies (ROC). Additionally, the company also needs to update its Memorandum of Association (MoA) and Articles of Association (AoAs) to reflect the new name and inform all stakeholders, including banks and tax authorities, to ensure smooth business operations.

What is a Company Name Change?

A Company Name Change refers to the formal process of altering a company's registered name to a new one. In India, changing a company’s name involves approval from the Ministry of Corporate Affairs (MCA), passing a board resolution and special resolution by shareholders, and updating all statutory records and documents with the new name.

Reasons for Company Name Change

Rebranding: Sometimes, a company outgrows its original identity. A name change helps reflect a new vision, product range, or business direction. It's a fresh start that allows the brand to connect better with its target audience.
Expanding into New Markets: When a company is expanding its business, entering new industries, or going global, a new name can help it appeal to a broader customer base. It allows the brand to feel relevant and adaptable across different regions and sectors.
After a Merger or Acquisition: When two companies merge, they often choose a new name that represents their combined strengths. This helps create a unified brand identity and builds trust among customers and stakeholders.
Avoid Name Confusion: If a company’s current name is too similar to another brand, it can cause confusion or even legal trouble. Changing the name helps avoid misunderstandings and ensures that the business stands out clearly in the market.
Outdated or Negative Associations: Some businesses change their names to leave behind outdated, irrelevant, or poorly perceived branding. A new name can modernize the company’s image in front of investors and make it more appealing to today’s customers.

Documents Required for Changing Company Name

You need the following documents to change the name of your company:

Original address proof of the company.
A certified copy of the Board Resolution passed by the Board of Directors approving the proposed name change:
A certified copy of the special resolution passed by the shareholders (with at least a 75% majority) approving the name change and the consequent amendments to the Memorandum and Articles of Association.
Altered Memorandum of Association (MoA)
Altered Articles of Association (AoA)
Notice and Explanatory statement detailing the reasons for the name change.
A certified copy of the minutes from the EGM where the special resolution was passed.
Affidavit from Directors stating that the company has complied with all necessary procedures and that the information provided is accurate.
Digital Signature Certificates (DSC) of the Directors of the company
Attendance of the personnel present during the EGM.

Forms Required for Changing Company Name

Form RUN: This is an application to serve as the new name of your company.
Form MGT-14: This form is filed to submit the Special Resolution passed to change the company's name. It must be filed within 20 days of passing the resolution.
Form INC-24: This is an application for approval from the Central Government for the company's name change.

Process of Changing Company Name Online

Follow the step-by-step procedure to change the name of your company:

STEP 1: Hold the Board Meeting

Conduct a Board Meeting and pass a proposal for a new company name. Once the proposed name is accepted, the authorized director or company secretary shall check for the availability of the new name.

STEP 2: Check the Name availability

Check whether the proposed name is available at the MCA portal.

STEP 3: File the Form RUN

File the 'Reserve Unique Name' (RUN) online at the MCA portal with a copy of the Board Resolution. In the form, you will propose two desired names for your company in the priority order.

STEP 4: Hold a General Meeting

Once a name is approved, a notice will be issued to shareholders for an Extraordinary General Meeting (EGM) to pass a Special Resolution for approving the proposed new name of the company. It is pertinent to note that you need to send at least 21 days' notice in advance with a detailed agenda to call an EGM.

STEP 5: File the MGT-14 Form

File the MGT-14 form with the RoC through the MCA portal within 30 days of passing the special resolution.

Attach the following documents with the form:

A Certified Copy of a Board Resolution
Notice for calling the General Meeting along with an Explanatory Statement to change the name of the company.
A certified copy of the Special Resolution passed by the members

STEP 6: File the INC-24 form

After filing the MGT-14 form, the next step is to file the INC-24 to obtain the approval of the central government to change the name of the company along with the linked forms e-MoA and e-AoA with the RoC at the MCA portal within 30 days of passing the special resolution for the change in the name of the existing company. Attach the following documents with the form:

Minutes of the meeting of the members
A Certified Copy of the Special Resolution
Altered Memorandum of Association (MoA) and Articles of Association (AoA) reflecting the new name

STEP 7: Approval by the RoC

The RoC will approve the company's new name and issue a new Certificate of Incorporation reflecting the updated name.

Post-Name Change Compliance Requirements for Companies in India

Changing the name of the company is not enough. There are several post-name change compliances which are needed to followed:

Update Memorandum of Association and Articles of Association
Update all company stationery, including letterheads, invoices, and other official documents, to show the new company name.
Update the company’s PAN and Tan to reflect the new name.
Inform the Income Tax Department and the Goods and Services Tax Department.
Update the company’s name in all the bank account records and issue new chequebooks.
Review all the company's existing licenses and permits and apply for amendments to incorporate the new company name.
Revise/Amend all the employment contracts, partnership agreements, and other company legal documents to reflect the changes in the name.
Revamp the company’s website, email addresses, and other social media accounts.

Challenges in Changing the Name of the Company

Changing your company's name can confuse existing customers who are familiar with the current name of your brand.
A new name might make it harder for customers to identify and connect with your products or services.
Changing your company's name can impact your online presence; make sure that you update your website and social media profiles.
Make sure that the existing name of the company does not infringe on the existing trademarks and is compliant with the provisions of the Emblems and Names Act, 1950.

How Can We Help You?

At Kanakkupillai, we understand that changing the name of your company is an important decision that includes several steps. We assist to ensure a smooth transition. Our services include:

Name Approval Assistance: We help you obtain approval for your proposed new company name.
Document Preparation: Our team prepares all necessary documents required for the name change process.
Filing with the Registrar of Companies (ROC): We handle the submission of all paperwork to the ROC on your behalf.
Issuance of New Certificate of Incorporation: We assist in obtaining the updated certificate reflecting your company's new name.
Update PAN and TAN: Our services include updating your company's Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) with the new name.

Our dedicated team of professionals gives attention to detail while filing the form and preparing the documents. We are committed to providing high-quality service at a reasonable price with no hidden fees!

Frequently Asked Questions

Will changing my company's name affect its legal identity? +

No, altering your company's name does not impact its legal identity or continuity. The company will exist in the name manner as it used to be and shall retain all its rights, obligations, and liabilities under the new name.

What is the role of the Registrar of Companies (ROC) in the name change process? +

The ROC oversees the approval of the new company name and ensures that the company complies with the legal requirements. After verifying the forms and the documents submitted, the ROC issues a new Certificate of Incorporation reflecting the updated name.

Are there any restrictions on selecting a new company name? +

Yes, the proposed name must be new, unique, lawful, and not resemble existing company names or trademarks. It should also comply with the provisions of the Emblems and Names Act, 1950. Additionally, certain words may require prior approval from the Central Government.

How does a company ensure compliance before initiating a name change? +

Before applying for a name change, the company has to ensure that all statutory obligations, such as filing annual returns and financial statements, are up to date.

Is it necessary to update tax registrations after a company name change? +

Yes, it is essential to update your company's PAN, TAN, GST registrations, and other tax-related documents to reflect the new name.

How does a company inform stakeholders about its name change? +

After obtaining the new Certificate of Incorporation, the company should notify all stakeholders, including clients, suppliers, and financial institutions, about the name change. It is recommended that the company's name be updated on official documents, websites, signage, and social media accounts.

What are the consequences of not updating the company name on official records? +

Failure to update the new company name on official records can lead to legal complications, miscommunication with stakeholders, and contract breaches. It is essential to ensure all documents and records promptly reflect the updated name.