CHANGE IN COMPANY NAME
Why Choose Dastawezz ?
Changing the name of the company amounts to a significant alteration since the Memorandum of Association and Articles of Association need to be altered. As per Section 13 of the Companies Act 2013, a company may change its name by passing a special resolution in a general meeting and receiving approval from the Central Government. The step-by-step process of changing the name of a company is given below:
I. Passing Board Resolution:
A board meeting should be called for passing a resolution to change the company name. In the meeting, the board of directors will discuss and approve the change in name, authorizing a Director or the CS of the company to check name availability with MCA, and calling Extra-Ordinary General Meeting for passing a special resolution.
II. Checking name availability:
The authorized director or company secretary will apply in form RUN to MCA for checking name availability and approving the name. This process is the same as the process adopted at the time of initial name approval. The following documents are to be attached to the form:
- Copy of Board Resolution.
- Approval of Owner of Trade Mark or the applicant of such application
III. Passing a Special Resolution:
As per section 13, 14 and 5(3) of the Companies Act, 2013, after approval of the new name by MCA, the Company must conduct an extraordinary general meeting and pass a special resolution for change of company name, and consequential changes to the Memorandum of Association and Articles of Association.
IV. Applying to the Registrar:
The special resolution will be filed with the Registrar of Companies within 30 days of passing the resolution.
V. Issuance of Certificate of Incorporation:
If the Registrar of Companies (RoC) is satisfied with the documents, it will issue a new certificate of incorporation. The process of changing the name of the company isn’t completed until the new certificate of incorporation is issued by the RoC.
VI. Incorporating company name in Memorandum of Association and Articles of Association:
Once the new certificate of incorporation is received from RoC, the company name must be incorporated in all the copies of the Memorandum of Association and Articles of Association.
ADVANTAGES / FEATURES
- Getting a copyright for the company name is extremely important for the success, revenue streams and future earning potential of the company. If a company can’t get copyright with its present name, then for protecting the financial future of the company and to avoid legal disputes, it is best to change the company name at the earliest.
- It helps in repositioning the company, especially when it is entering a new market, thus giving it a new brand identity.
- This is commonly done when there is a change in ownership of the company.
- By use of words representing geographical region or offerings, the name defines the boundary of operations. This helps to discard any boundaries associated with the name and give the company a global outlook.
- Digital Signature Certificate of one of the authorised director of the company
- A copy of the latest amended MoA and AoA of the company
- Certificate of Incorporation of the company
- Copy of PAN card of the company