Company Name Change
The name of a private limited company may have to be changed for a number of reasons including change of authority, change of objective of the business, change of management, rebranding, etc., The name of a private limited company can be changed at anytime with the approval of the shareholders and Ministry of Corporate Affairs (MCA).
The name adopted by a private limited company during incorporation can be changed later. To change the name of a private limited company, the consent of the shareholders through a special resolution and MCA approval are required. The change of name of a private limited company has no impact on its legal entity or its existence as a corporate entity. The change of name of a company will not create a new company or new entity.
NAME CHANGE PROCEDURE:-
Step 1: Board Meeting- Hold a meeting of Board of Directors of the company Once it has been decided to change the name of the company, the company shall hold a meeting of board of directors to pass necessary resolution for the change of name. The board shall consider and finalize the new name of the company subject to the approval by MCA.
Step 2: Name Availability- The next step is to get the new name approved by the Registrar of Companies.You need to attach the board resolution along with the application for new name approval.
Step 3: Extra Ordinary General Meeting- When the new name of the company is reserved by the ROC, the company shall hold an extra ordinary general meeting (EGM) of the members of the company to pass necessary special resolution to approve the change of name of the company and also for approval of alteration in the memorandum of association of the company.
Step 4: Filing of Forms- the company shall file two e-forms with the registrar of companies. First form is e-form MGT-14 within a period of 30 days from the date of passing of special resolution with ROC on MCA portal. Second form is e-form INC-24 within a period of 30 days (after MGT-14 approved by ROC) from the date of passing of special resolution with ROC on MCA portal. There are certain documents necessarily required to be attached with e-form MGT-14 and e-form INC-24. Here is the complete list of documents required to be attached with e-form MGT-14 and e-form INC-24.
Documentation for e-form MGT-14:-
1) Notice of Extra - ordinary general meeting (EGM)
2) Copy of special resolution passed in the EGM
3) Copy of altered Memorandum of Association(MOA) and Article of Association(AOA) of the company.
Documentation for e-form INC-24:-
1) Extract of the Minutes of the Extra-ordinary general meeting of the company.
2) Notice of EGM, Copy of special resolution and copy of altered MOA and AOA.
Step 5:- Filing- Forms preparation and filing on MCA portal Once you are ready with all the required documents, you need to prepare e-forms MGT-14 and INC-24.
Certificate of Incorporation- new certificate of incorporation in form INC-25 is issued and the name of the company gets changed.
Note-Change of name shall not be allowed to a company which has defaulted in filing it Annual Returns or Financial Statements or any document due for filing with the Registrar or which has defaulted in repayment of matured deposits or debentures or interest on deposits or debentures.
We are happy to serve you if you are willing to change the name of your company.
