The name of a company is regarded as the identity of a company. The Memorandum of Association (MoA) of the company consists of the name clause of the company; hence change in name ultimately results in the alteration of the MoA.
Change of name can be done at any time after incorporation of the company with the approval of the shareholders. It is regulated under Section 13 of the Companies Act, 2013 and Rule 29 of Company (Incorporation) Rules, 2014.
Section 13 : A company may alter its name after passing of the special resolution and with the approval of Central Government.
Rule 29 : The change of name shall not be allowed to a company which has not filed annual returns or financial statements due for filing with the Registrar or which has failed to pay or repay matured deposits or debentures or interest thereon.
PROCESS OF NAME CHANGE
Change of name can be done at any time after incorporation of the company with the approval of the shareholders. It is regulated under Section 13 of the Companies Act, 2013 and Rule 29 of Company (Incorporation) Rules, 2014.
Section 13 : A company may alter its name after passing of the special resolution and with the approval of Central Government.
Rule 29 : The change of name shall not be allowed to a company which has not filed annual returns or financial statements due for filing with the Registrar or which has failed to pay or repay matured deposits or debentures or interest thereon.
PROCESS OF NAME CHANGE
- Issuance of Notice : Issue not less than 7 days notice and agenda of Board Meeting to all the directors of the company and call a Board Meeting to apply for change of name of company.
- Hold Board Meeting : Hold Board Meeting and pass the resolution to consider the proposal of change in the name of company and authorize director to apply the same through ‘RUN’ –web service launched by MCA.
- Application of Reservation of Name : Apply for reservation of Name on MCA website through RUN by paying Rs. 1000/- which will be reserved for 60 days if approved by the concerned authority.
- Board Meeting : Issue not less than 7 days notice and agenda of Board Meeting to all the directors of the company and hold a Board Meeting to place the name of company approved and schedule the Extra Ordinary General Meeting (EGM).
- Issue Notice to call EGM : Issue not less than 21 days clear notice and agenda of EGM to all the directors and members of the company.
- Hold EGM : Pass the special resolution for alteration of MOA and AOA regarding the name change and authorize the directors to file FORM INC-24 and MGT-14.
- Watch this video to know how to file the forms https://youtu.be/XlmuQh4nVz0
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