A private limited company's name may need to be changed for a variety of reasons, including a shift in the company's mission, a change in management, rebranding, and so on. With the agreement of the shareholders and the Ministry of Corporate Affairs, a private limited company's name can be changed at any time (MCA). A private limited company's name can be altered after it has been incorporated. A special resolution of the shareholders and approval from the MCA are necessary to alter the name of a private limited company. A private limited company's legal entity or existence as a corporate entity is unaffected by its name change. The change of name of a company will not create a new company or new entity.
The proposed name will be discussed by the Company's directors. The directors are given seven days' notice to hold a board meeting to enact the appropriate resolution for the name change approval. In a board meeting, the following resolutions are passed:
To empower the Company Secretary or Director to submit a ROC for the purpose of confirming the availability of the chosen name.
To set a date, time, and location for an EGM to accept the new name after it has been approved, as well as to change the MOA. It is important for the Company to remember that no two companies can have the same name.
MCA will be used to check the availability of the name. The drop-down menus for "Public Search of Trademark" and "Check Corporation Name" can be used to see if the same name is registered as a trademark or as a company.
After verifying that the name is available, it can be used with the new web service RUN. This form can be used to apply for up to two names for a charge of INR 1000. If the Company is changing its name, please include a copy of the board resolution allowing the change to this form. Following a comprehensive review of the application, ROC either accepts the name or requires it to be resubmitted. The ROC-approved name is valid for 20 days after it is approved.
After the ROC has authorised the name and the Company has received the name permission letter, the EGM will be called and convened to pass the appropriate Special Resolution for the approval of the name change and amendments to the MOA and AOA.
Within 30 days of the EGM, file a special resolution with the ROC in form MGT-14 (which may be downloaded as a zip file from the MCA's official website) along with the following papers annexed to the form:
Altered AOA
Altered MOA
Notice of EGM along with an explanatory statement
CTC of Special Resolution passed
By completing form INC-24, the company must obtain Central Government approval for a name change and a change in the MOA. This form must be accompanied by a copy of the minutes of the EGM at which the Special Resolution was passed.
Following the completion of the name change process, the ROC will issue a new COI with the modified name listed on it. Since the issue of a new COI, the new name has been in effect.
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No, there can't be two corporations with the same name registered in India. A corporation will not be able to register a name that is already in use, according to the RoC.
No, altering the firm's name will not result in the formation of a new company. All previous liabilities and obligations are still in place.
The company's name is frequently changed for the following reasons:
If the company's commercial activity is shifting,
In the event that the government mandates it, a corporation willing to modify its present name to reflect the brand it works with.
Because ROC clearance differs from state to state, a name change can take 15 to 20 days to execute.
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