Change in Name of the Company

The process for changing in name of a company is much simple than the change in the name of an individual. A Company can change its name at any point of time by complying with the provisions given under section 13 of the companies act, 2013, In this article we are providing the small description of the compliances need to be done for the change in name of the company.

Some of the Reasons for the change in the name of the company are:

• Due to a Change in the object clause of the company;
• The existing name is not sufficient to reflect the main object of the company;
• The company wants to change its name on suo-moto;
• Where the company wants to reflect the group of companies in its name.

Procedure to be followed:

• Board shall authorize any one director in their Board Meeting to file a Name application.
• Company can file two alternative names with the CRC.
• Meeting of member’s to approve the change in the name and alteration of MOA & AOA by passing of Special resolution at their general meeting.
• After the name is approved, the copy of approved resolution and altered MOA & AOA to be filed with the Registrar in e-form MGT-14.
• Application for approval of central government for a change of name (to give effect to change in name) the company needs to file the minutes of the general meeting and turnover certificate if change in name is due to change in object of the company in e-form INC-24.
• New certificate of incorporation to be issued by the central government in form INC-25.

After change of name of the company, company mandatorily to update the below mentioned with the new name of the company:

• PAN Card of the Company;
• Bank accounts of the company;
• Name on the letterhead of the company;
• Stamp of the Company and Authorized Signatory and
• Authorities where the company is registered;
• Registers of the company etc.

Note:

• A Company cannot change its name if it has failed to filed annual returns or financial statements; or
• which has failed to pay or repay matured deposits or debentures or interest thereon.

We at K2Y India have prepared this article as per our practical exposure w.r.t. change in name of the company, any further documents and clarifications may be asked by the concerned authority then we have to provide the same and clarify all the issues.