{"id":51485,"date":"2022-12-26T18:40:29","date_gmt":"2022-12-26T13:10:29","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=51485"},"modified":"2022-12-26T18:42:20","modified_gmt":"2022-12-26T13:12:20","slug":"company-name-change-procedure","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/","title":{"rendered":"Company Name Change Procedure: Explained"},"content":{"rendered":"\n<p>Companies requiring name alteration\nmust follow the prescribed Company Name Change procedure underpinned by the\nMinistry of Corporate Affairs (MCA).&nbsp;\nThis write-up discusses the same in detail, letting you know every legal\naspect associated with the company name change.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Why_Do_Companies_Opt_For_A_Name_Change\" >Why Do Companies Opt For A\nName Change?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Casting_light_on_the_Company_Name_Change_Procedure\" >Casting light on the\nCompany Name Change Procedure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Mandatory_Documentation_for_Change_of_Company_Name\" >Mandatory Documentation for Change of Company Name<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Step-By-Step_Company_Name_Change_Procedure\" >Step-By-Step Company Name Change Procedure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Compliance_Need_To_Be_Fulfilled_Post_Completion_of_Company_Name_Change_Procedure\" >Compliance Need To Be Fulfilled Post Completion of\nCompany Name Change Procedure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/company-name-change-procedure\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Do_Companies_Opt_For_A_Name_Change\"><\/span><strong>Why Do Companies Opt For A\nName Change? <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There could be many\nreasons why a company wishes to alter its name. Some common reasons that\nencourage a company to change its name include <\/p>\n\n\n\n<ul><li>The existing name doesn\u2019t\nfit the expansion or merger strategy. <\/li><li>The existing name is not\nhelping with customer retention.<\/li><li>End-users find it\ndifficult to associate the offerings with the company name. <\/li><li>The company is eager to\nrevamp its branding strategy.<\/li><li>The company is willing to\ntarget a new customer base. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Casting_light_on_the_Company_Name_Change_Procedure\"><\/span><strong>Casting light on the\nCompany Name Change Procedure<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The company name change\nprocedure entails the following steps: <\/p>\n\n\n\n<ul><li>Company name reservation\nvia RUN services available on the MCA portal. <\/li><li>Filing of MGT-14 with MCA.\nMGT-14 informs the authority that the necessary resolution has been passed for\nmaking changes in MoA and AoA. <\/li><li>Filing e-form INC-24 <\/li><\/ul>\n\n\n\n<p><strong><em>Note: Keeping in view\nsubsection (3) of Section 13 of the Companies Act, 2013, an applicant must file\nform INC-24 for the company name change. In response, the authority shall grant\nthe incorporation certificate in form INC-25 post the name change. <\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mandatory_Documentation_for_Change_of_Company_Name\"><\/span><strong>Mandatory Documentation for Change of Company Name<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Keeps the following\ndocuments ready before indulging with the company name change procedure: <\/p>\n\n\n\n<ul><li><strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/company-registration\">Certificate of Incorporation<\/a><\/strong> (COI)<\/li><li>Altered AOA and MOA<\/li><li>List of directors and\nshareholders of the company <\/li><li>Digital Signature (DSC) of\nthe authorized director<\/li><li>Proof concerning the\nregistered business address<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step-By-Step_Company_Name_Change_Procedure\"><\/span><strong>Step-By-Step Company Name Change Procedure <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The section below briefs\nout the company name change procedure in detail. Make sure to pay attention to\nthe documentation part, as most of the mistakes occur with the paperwork. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>Step 1: <\/em><\/strong><strong><em>Passing a Board Resolution<\/em><\/strong><\/h3>\n\n\n\n<p>This step requires the\ncompany to convene the board meeting and pass the resolution for the company\nname change. The directors must direct the concerned officials to perform a\nname search on the MCA portal. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>Step 2:\nPerform a name search to check the availability. <\/em><\/strong><\/h3>\n\n\n\n<p>The designated officials, such as CS or the director, will file the request under the services called RUN (Reserve Unique Name) on the MCA portal. The said service would clarify whether the proposed name is registered or not. <\/p>\n\n\n\n<p><strong>Note:<\/strong> Before initiating the name search via RUN services, make\nsure that the proposed name;<\/p>\n\n\n\n<ul><li>Doesn\u2019t contain offensive\nwords.<\/li><li>Should comply with norms\nunder the Companies (Incorporation) Rules, 2014.<\/li><li>Is not registered or has\nsome trademark protection <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>Step 3: Passing special resolution.<\/em><\/strong><\/h3>\n\n\n\n<p>Once the proposed name is\napproved, the next step for the company is to convene the Extraordinary General\nMeeting (EGM). Through EGM, the directors will authorize the company\u2019s action\nconcerning the name change and alternation in the charter documents, such as\nArticles of Association or Memorandum of Association<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>Step 4: File form MGT-14<\/em><\/strong><\/h3>\n\n\n\n<p>This step requires the\ncompany to file a special resolution with RoC within thirty days of approving\nthe resolution. Along with this, the company is also required to file form\nMGT-14, which should enclose information about the special resolution. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>The listed below are the\ndocuments that will serve as an annexure to Form MGT-14: <\/em><\/strong><\/h3>\n\n\n\n<ul><li>Certified copy concerning\nthe special resolution<\/li><li>EGM notification shared\nwith the board members <\/li><li>Explanatory statement that\nwas attested to the EGM,<\/li><li>Altered Articles of\nAssociation <\/li><li>Altered Memorandum of\nAssociation<\/li><\/ul>\n\n\n\n<p>After filing MGT-14, the\nnext step for the company is to file form INC-24 for availing of consent from\nthe central government for the name change. Make sure you have the \u201cservice\nrequest number\u201d of MGT-14 before filing the INC-24.<\/p>\n\n\n\n<p><strong><em>The list below reflects\nthe mandatory document for INC-24 filing: <\/em><\/strong><\/p>\n\n\n\n<ul><li>A certified copy of\nminutes of the meeting of EGM in which members approved the special resolution <\/li><li>EGM notification<\/li><li>Copy of resolution\nagreement reflecting the voting status of the members <\/li><li>Copy of the approval from\nReserve Bank, SEBI, IRDA, and so on.<\/li><li>Altered MoA and AoA<\/li><li>Any other optional\nattachments<\/li><\/ul>\n\n\n\n<p><strong><em>The INC-24 form must\nreflect the following information without fail:<\/em><\/strong><\/p>\n\n\n\n<ul><li>Reasons for the name\nchange<\/li><li>Details pertaining to the\nnumber of members present in the&nbsp; EGM, <\/li><li>Voting status of the\nmembers showing who were against and favor of the resolution<\/li><li>Percentage of shareholding\nof member <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><em>Step 4: Grant of the incorporation certificate<\/em><\/strong><\/h3>\n\n\n\n<p>If the Registrar of\nCompanies doesn\u2019t find any loophole in the application and attested documents,\nthe new incorporation certificate shall be accorded to the applicant. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Compliance_Need_To_Be_Fulfilled_Post_Completion_of_Company_Name_Change_Procedure\"><\/span><strong>Compliance Need To Be Fulfilled Post Completion of\nCompany Name Change Procedure <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Upon receiving the new\nincorporation certificate, the company must make apt changes in the charter\ndocuments, such as AOA and MOA. Apart from that, the following documents should\nalso reflect the changes regarding name alteration. <\/p>\n\n\n\n<ul><li>The common seal of the\ncompany and official company seal<\/li><li>Promissory notes and bills\nof exchange<\/li><li>Company bank account name<\/li><li>Tax authorities, EPF, and\nESI department<\/li><li>Company website and social\nmedia accounts<\/li><li>Company PAN and TAN<\/li><li>Company letterheads,\nbusiness cards, etc.<\/li><li>Company statutory\nregisters<\/li><li>Employment and business\ncontracts<\/li><li>Update business licenses\nor permits<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As it is clear from the above the company name change procedure is not a straightforward affair. One must undergo a set procedure, as mentioned by the MCA, to secure approval for the name change from RoC.&nbsp; A service like RUN on the <strong>MCA portal<\/strong><sup><a class=\"text-primary\" href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/home.html\"><strong>[1]<\/strong><\/a><\/sup> will help companies with name availability, which is vital to avert any legal nuisances.&nbsp; It\u2019s noteworthy that the name change facility is not available to companies being flagged by authorities for non-compliance pertaining to annual filing, repayment of loans, deposits, or debentures, and disclosing financial statements. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/change-in-the-name-of-the-company\/\">Change In The Name Of The Company: Step By Step Procedure<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Companies requiring name alteration must follow the prescribed Company Name Change procedure underpinned by the Ministry of Corporate Affairs (MCA).&nbsp; This write-up discusses the same in detail, letting you know every legal aspect associated with the company name change. Why Do Companies Opt For A Name Change? There could be many reasons why a company [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":51492,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[2981],"acf":{"service_id":"1"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":3479,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51485"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=51485"}],"version-history":[{"count":4,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51485\/revisions"}],"predecessor-version":[{"id":51494,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/51485\/revisions\/51494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/51492"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=51485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=51485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=51485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}