Company Name Change
Change Company Name in India is to establish incorporate and operate a company in India you do need a valid and appropriate name but if you have already found such a name once and for some reason it no longer suits your needs do you still have scope of getting a new name for your company.
Companies often choose to change their name for strategic reasons. One common motive is aligning the company’s branding with its evolving business objectives, reflecting changes in products, services, or target market. Mergers, acquisitions, or restructuring may also necessitate a name change, signaling a shift in ownership or corporate identity. Changing a company name can serve legal effect of change of company name purposes, such as avoiding trademark conflicts or complying with regulatory directives. It’s a proactive step toward revitalizing the company’s image, strengthening its market presence, and adapting to changing business dynamics.
Free Consultation by Expert
“Change company name” refers to the process of altering the legal name of a registered company or business entity. This involves updating the company’s official records, documents, and registrations to reflect the new name. It typically requires fulfilling specific legal requirements, such as obtaining board and shareholder approvals, filing necessary forms with the appropriate government authorities, and obtaining a new Certificate of Incorporation or Registration.
Under which act Change Company Name in India ?
The process of changing a company name in India is governed by the Companies Act, 2013. This act outlines the legal requirements and procedures for making changes to a company’s name, among other aspects of company law. So, to change the name of a company in India, you would need to follow the guidelines and procedures set forth in the Companies Act, 2013.
What are the documents required for change in name of company ?
To change the name of a company in India, you would typically need the following documents:
- Board Resolution: A resolution passed by the board of directors approving the company name change and authorizing the filing of necessary forms with the Registrar of Companies (ROC).
- Special Resolution: A resolution passed by the shareholders of the company approving the company name change. This resolution should be filed with the ROC.
- Amended Memorandum of Association (MOA): The MOA is a legal document that outlines the company’s objectives and powers. An amended version of the MOA reflecting the new company name needs to be prepared and filed with the ROC.
- Amended Articles of Association (AoA): The AoA contains the rules and regulations governing the internal affairs of the company. An amended version of the AoA reflecting the new company name should be prepared and filed with the ROC.
- Form INC-24: This form is used to apply for the approval of the ROC for the change of name. It should be filled out accurately and submitted along with the necessary supporting documents and fees.
What is the procedure of change company name in India ?
Happy to explain the procedure for changing a company name in India. Here’s a simplified overview:
- Board Resolution: The board of directors must pass a resolution approving the company name change and authorizing the filing of necessary forms with the Registrar of Companies (ROC).
- Check Name Availability: Conduct a name availability search on the MCA website to ensure that the desired name is not already registered or too similar to an existing company name.
- Special Resolution: Shareholders must pass a special resolution approving the name change. This resolution needs to be filed with the ROC within 30 days.
- Prepare Amended Documents: Prepare amended versions of the Memorandum of Association (MOA) and Articles of Association (AoA) reflecting the new company name. These documents need to be signed by the directors and shareholders.
- File Form INC-24: Fill out and file Form INC-24 with the ROC. This form includes details about the company, the reason for the name change, and the amended MOA and AoA. Pay the required fees and submit the form along with the supporting documents.
- Approval and Issuance: The ROC will review the application, and if everything is in order, they will issue a new Certificate of Incorporation with the updated company name.
What are the benefits of changing company name ?
Changing a company name in India can offer several benefits:
- Branding and Image: A new name can help reposition the company, create a fresh identity, and enhance its brand image in the market.
- Market Differentiation: A name change can help the company stand out from competitors and attract attention from potential customers or clients.
- Expansion and Diversification: If a company plans to expand its business or enter new markets or industries, a name change can reflect its new direction and create a stronger impact.
- Legal Compliance: compliance after name change of compliance involves updating legal documents, contracts, licenses, and notifying stakeholders. Changing the company name ensures that it aligns with the legal requirements and regulations set by the Companies Act, 2013.
- Re-branding Opportunities: A name change can be an opportunity to revitalize the company’s marketing and advertising efforts, allowing for a fresh start and increased visibility.
- Improved Perception: A well-thought-out name change can positively impact how the company is perceived by stakeholders, including investors, customers, and employees.
What are the legal requirements for changing a company name ?
To legally change a company name in India, you need to fulfill certain requirements:
- Board Resolution: The board of directors must pass a resolution approving the name change and authorizing the filing of necessary forms with the Registrar of Companies (ROC).
- Shareholder Approval: Shareholders must pass a special resolution approving the name change. This resolution needs to be filed with the ROC within 30 days.
- Name Availability Check: Conduct a name availability search on the MCA website to ensure that the desired name is not already registered or too similar to an existing company name.
- Amended Documents: Prepare amended versions of the Memorandum of Association (MOA) and Articles of Association (AoA) reflecting the new company name. These documents need to be signed by the directors and shareholders.
- Form INC-24: Fill out and file Form INC-24 with the ROC. This form includes details about the company, the reason for the name change, and the amended MOA and AoA. Pay the required fees and submit the form along with the supporting documents.
- ROC Approval: The ROC will review the application, and if everything is in order, they will issue a new Certificate of Incorporation with the updated company name.
What are the reasons to change company name ?
Reasons for Change of Company Name in india; A company may decide to change its name for various reasons. Some of the common reasons are listed below:
- Voluntary change of name
The company board may decide to change the company name voluntarily. It is legal to change the company name voluntarily subject to the fulfillment of all the conditions.
- Change in business activity
A company board may decide to change the name when it changes its business activities. It may change the name to reflect the new or additional business objects. In such circumstances, the company should also alter its Memorandum of Articles to change its main object.
- For marketing or Re branding
A company can change its name for marketing reasons or to effectively position the company’s brand. It may also change the name to as per the latest fashion and trend for better brand positioning. When a company is ready to move into a new market, it may change its name to reposition its brand.
- Change of ownership
Usually, when the ownership of a company changes or entity takeovers the company, it is seen that the company name also changes to reflect the authority of the new management and for branding purposes.
- Avoid IPR issues
A company may change its name to reinforce its trademark or copyright in its name. Similarly, the company can change its name to avoid a potential IPR conflict.
What we offer?
Black Tie Legal Service India LLP can provide valuable assistance throughout the process of changing your company name in India, saving you time, effort, and ensuring compliance with regulations. Here’s a breakdown of the kind of help you can expect from Black Tie Legal Services India LLP:
Understanding the Process:
- Guiding you through the legalities: Black Tie Legal Services India LLP can explain the legal framework surrounding company name changes in India, as outlined by the Companies Act, 2013.
- Clarifying procedures: Black Tie Legal services India LLP can break down the entire process into step-by-step procedures, ensuring you understand the sequence and requirements at each stage.
Facilitating Approvals:
- Board Resolution Drafting: Black Tie can help draft the board resolution proposing the name change and ensure it includes all the necessary details for approval.
- Special Resolution Preparation: Black Tie can assist in preparing the Special Resolution for the shareholders’ meeting, ensuring it adheres to legal requirements and voting procedures.
- Liaison with MCA: Black Tie may act as a liaison with the Ministry of Corporate Affairs (MCA), handling communication and addressing any queries that might arise during the application process.
Ensuring Compliance:
- Name Availability Check: We can conduct a thorough name availability check using the MCA’s RUN facility to ensure the new name isn’t already in use.
- Form Filling and Filing: Black Tie Legal Services India LLP assist with accurately filling out the required e-forms (MGT-14 and INC-24) for submitting to the MCA through the MCA portal.
- Public Notice Management: Black Tie can help prepare and place the required public notices in newspapers and the Official Gazette.
Additional Services:
- Communication Strategy Development: We can collaborate with you to develop a communication plan to inform stakeholders (customers, employees, partners) about the company name change.
- Document Updates: In some cases, Black Tie might offer assistance with updating official company documents, licenses, permits, and registrations with the new company name.
- Post-Approval Support: We can answer any questions you might have after the name change process is complete and provide guidance on maintaining compliance with the new company name.