Change in name of company may either be compulsion through law or voluntarily by company.
By operation of Law:
• Company is either converting itself from Private Ltd. to Public limited or vice-versa.
Areas other than by Operation of Law:
With the emergence of global market, existing companies are diversifying their business with the development of new product. This leads to recheck the suitability of existing name of company as per their existing or proposed objects.
• Change in management
• To enhance brand value of company
• Searching for a name which is easy to remember and easy to spell
• Voluntary change
Change in Name clause of the Company involves alteration of Memorandum of Association(MOA).
Change in name is tedious in terms of all legal formalities which need to be discharged before applying for change of name and getting approval
Meeting of Board of Directors:
Check the availability of name of company on MCA website that have proposed in board meeting.
Check Name Availability
Check the availability of name of company on MCA website that have proposed in board meeting.After application through “RUN” services and proposed name shall be reserved by ROC for 60 days but subject to availability and must not be undesirable in terms of legal ompliance
Convene an EGM:
After approval from MCA, a special resolution required to be pass at an EGM by shareholders for change of Name.
Application for Approval From ROC:
Once the special resolution is passed in EGM, the company has to file the resolution so passed with the Registrar of Company within 30 days of the passing of the resolution. Form MGT-14 has to be filled with necessary attachments.
Issuance of New Certificate of Incorporation
Registrar of Company will check and review the forms and documents filed by the company. If he is satisfied with the forms and documents were given by the Company then Registrar will issue the New Incorporation certificate stating the new name of the company. The name will be effecting from the date of issue of the certificate.
Changes Required In MOA & AOA:
Make the necssary changes in MOA & AOA reflecting new name of company.
1. Current Certificate of Incorporation
2. MOA and AOA in word format
3. List of Directors and Shareholders
4. Proposed Name
5. Authorized director Digital Signature
6. Letter heads (approx 10) and rubber stamp
The process of change of name normally take 15 working days, however every thing depends on the approval of new name by the ROC in the first hand only. Professional services of iNext shall cover the drafting of the documents, filing relevant application before the ROC and do followup with the department if required.