Introduction;
Any Company incorporated under Companies Act, 2013 or any other law for the time being in force, can alter the name of the company which was given at the time of its incorporation, there may be varied of reason for alteration of name that depends on the companies.
Section- 2 (a) Provided that the name given by the company should not be identical or resembles too nearly with other company as Is identical with or resemble too nearly to the name of an existing company registered under this Act or any previous company law, or:
Section- 2 (b) (i) will constitute an offence under any law for the time being in force, or:
Section- 2 (b) (ii) is undesirable in the opinion of the Central Government.
Name alteration is dealt under Section 13 of the Companies Act 2013, wherein a company can alter its name by passing special resolution and other detailed procedure as mentioned hereunder:
Procedure;
Step 1: Passing of of Board Resolution for application of name alteration and providing maximum of 2 names.
Step 2: Application of names through MCA V3 portal RUN for change of name only, has to provide the CIN, reason along with the new names (as mentioned in the board resolution) of the existing company opting for name alteration
Step 3: After provide the required information submit the same, after paying the MCA Govt. fees of Rs. 1000/- only, there will be 2 resubmission allowed for it, if the names are not in accordance with the rules.
Step 4: Within 3-4 working days the intimation as to whether the names are approved or not, will be provided by the ministry, and the company have to act accordingly, if any of the names given are not approved then have to act according to the query received by the ministry, otherwise if any of the names given were approved then the company have to follow the below steps
Step 5: The names approved by the ministry shall be available for 60days from the date of approval,
Step 6: Henceforth the company have to conduct extraordinary general meeting and passing special resolution for the name alteration, file MGT-14 within 30days from the date of passing special resolution, followed by preparation of other documents (which is discussed later)
Step 7: After approval of e-form MGT-14, the company have to file INC-24 within 30days of passing special resolution
Step 8: Moreover, once the e-from INC-24 is approved the company will receive the intimation from the ministry, along with the certificate with new altered name.
Documents Required Being Prepared:
- Board Resolution
- Notice For EGM, Along With The Explanatory Statement, Proxy Form, Attendance Sheet
- Certified True Copy Of Special Resolution
- Minutes Of Extraordinary General Meeting
- Altered MOA
- Altered AOA
- Affidavit by each director of the company
E-FORMS INVOLVED:
- MGT-14
- INC-24
ALTERATION OF NAME SHALL NOT ALLOW TO FOLLOWING COMPANIES:
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.
Conclusion: Changing a company’s name involves a meticulous legal process, ensuring compliance with the Companies Act, 2013. Following the outlined steps and submitting the necessary documents through prescribed e-forms ensures a smooth and legally sound transition. It’s crucial to adhere to the guidelines to avoid any disruptions or non-compliance issues. This information serves as a comprehensive guide, but users should refer to existing laws for the most accurate and up-to-date details.
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Disclaimer: The entire contents of this document have been prepared based on relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness, and reliability of the information provided, I assume no responsibility, therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a piece of professional advice and is subject to change without notice. I assume no responsibility for the consequences of the use of such information.
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