Changing the name of a company is a significant move that can reflect a company’s evolution, rebranding efforts, or strategic direction.
Change in Name of a Company
Changing the name of a company is a significant move that can reflect a company’s evolution, rebranding efforts, or strategic direction. However, it is not just a creative decision—there are legal procedures to follow for compliance with the Ministry of Corporate Affairs (MCA).
At Udyog Buddy, we guide businesses through the entire process of changing their company’s name to ensure it is handled smoothly and legally.
VARIOUS SITUATIONS WHEN A COMPANY MAY CHANGE ITS NAME
Conversion of the company from private limited to public limited (Eg. Reliance Industries Private Limited to Reliance Industry Limited)
Conversion of the company from public limited to private limited (Rajan Limited to Rajan private limited)
Change of name from ABC limited to XYZ limited (Vishal Retail Limited to V2 Retail Limited)
Voluntarily changing the Name of the Company (Raj Industries Limited to Patel brothers Limited)
Change of Name after Change in Business Objective (Khandelwal Wires Limited to Khandelwal Plastics Limited)
Enhancing Brand Value by changing the name (Rebranding)
Discard boundaries assumed by name (Gujarat Bottles Limited to Indian industries Limited)
Any other mode of restructuring as permitted under the Companies Act.
Note: These names in examples are just assumptions and do not relate to any real companies.
Process For Changing The Name Of A Company
Changing a company’s name involves several steps, including board approvals, shareholder consent, and filings with the MCA. Below is a breakdown of the process:
Step | Description |
Board Resolution | The company must hold a board meeting and pass a board resolution approving the proposed name change. This is the first formal step. |
Name Availability Check | The company must check the availability of the desired new name on the MCA portal. The name should not be identical to or closely resemble any existing company names or trademarks. |
Special Resolution | After confirming name availability, the company must pass a special resolution in a general meeting of shareholders, approving the name change. |
Filing Form MGT-14 | The company must file Form MGT-14 with the MCA to notify the Registrar of Companies (RoC) about the special resolution passed for the name change. |
Filing Form INC-24 | After approval of Form MGT-14, the company must file Form INC-24 with the RoC to seek final approval for the name change. The form is submitted with applicable fees. |
Issuance of New Certificate | Once the RoC approves the name change, the company will receive a new Certificate of Incorporation with the updated name, making the change official. |
Documents Required For Changing The Name Of A Company
Document | Purpose |
Board Resolution | A copy of the resolution passed by the board of directors approving the change in name. |
Special Resolution | A copy of the special resolution passed in the shareholders’ meeting approving the name change. |
Form MGT-14 | Filed with the RoC to notify about the special resolution. |
Form INC-24 | Filed with the RoC to get final approval for the name change and obtain a new Certificate of Incorporation. |
Proof of Name Availability | Evidence from the MCA portal showing that the new name is available and does not conflict with existing company names or trademarks. |
Document | Purpose |
Board Resolution | A copy of the resolution passed by the board of directors approving the change in name. |
Post-Name Change Compliance
After changing the company’s name, several other steps need to be followed to ensure complete compliance:
Update Company Documents :Update the name on all company documents, including letterheads, business cards, contracts, website, and email signatures.
Inform Stakeholders :Notify important stakeholders, including clients, suppliers, and government authorities, about the name change.
Bank and Tax Authorities :Update the new name with the bank, Income Tax Department, and GST authorities to ensure smooth continuity of business operations.
How Udyog Buddy Can Help
At Udyog Buddy, we ensure that the process of changing your company’s name is handled efficiently and with full compliance. Our services include:
Expert Guidance: From checking name availability to obtaining the new Certificate of Incorporation, we guide you through every step.
Filing Assistance: We help you prepare and submit the necessary forms, such as MGT-14 and INC-24, ensuring there are no delays.
End-to-End Support: We assist in updating your company’s legal and operational documents, ensuring a smooth transition.
Conclusion
Changing the name of your company is a significant legal process that requires adherence to several MCA procedures. By following the steps outlined above and ensuring proper documentation, the name change can be successfully executed. At Udyog Buddy, we offer expert assistance in making the name change process hassle-free and compliant with all legal requirements. Contact us today for personalized guidance on changing your company’s name!
Why Choose Udyog Buddy ?
Udyog Buddy is a team of experienced professionals, our end-to-end service model, combined with personalized support, makes the incorporation journey straightforward and stress-free. Additionally, our commitment to cost-effective solutions and time efficiency allows businesses to focus on growth and operations without unnecessary delays or financial strain. Choosing Udyog Buddy means partnering with a trusted expert dedicated to helping your business succeed from the very start.
Connect with us for any queries
Call/WhatsApp +919301789019 or E-mail at hello@udyogbuddy.com
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