NAME CHANGE OF COMPANY

NAME CHANGE OF COMPANY

A company's name change is a multi-step process governed by the Companies Act, 2013. It requires shareholder approval and the filing of specific forms with the Ministry of Corporate Affairs (MCA). 

Step 1: Hold a board meeting 

The Board of Directors must convene a meeting to discuss and approve the name change. During this meeting, a resolution should be passed to: 

• Approve the change of name in principle.
• Authorize a director or company secretary to apply to the Registrar of Companies (ROC) for the new name's availability.
• Fix a date, time, and place for an Extraordinary General Meeting (EGM) to get shareholder approval. 

Step 2: Check and reserve the new name 

The authorized director or company secretary must check the availability of the proposed name using the Reserve Unique Name (RUN) service on the MCA portal. 

• The application fee for the RUN form is ₹1,000.
• If the name is approved, it is reserved for 60 days from the date of approval. 

Step 3: Hold an Extraordinary General Meeting (EGM) 

Once the name is reserved, an EGM of shareholders must be held to pass a special resolution for the name change. This requires the affirmative vote of at least 75% of the shareholders present and voting. 

Step 4: File Form MGT-14 

After the EGM, file e-Form MGT-14 with the ROC within 30 days of passing the special resolution. Attach the following documents: 

• Certified true copy of the special resolution.
• Notice of the EGM and explanatory statement.
• Altered Memorandum of Association (MOA) and Articles of Association (AOA).
• Minutes of the EGM. 

Step 5: File Form INC-24 

Next, file e-Form INC-24 with the ROC, along with the prescribed fee, to seek the Central Government's approval for the name change. You must provide the Service Request Number (SRN) of the MGT-14 form. 

Step 6: Receive the new Certificate of Incorporation 

Upon review and satisfaction with the application, the ROC will issue a fresh Certificate of Incorporation with the new name. The name change becomes effective from the date of issuance of this new certificate. 

Step 7: Complete post-name change compliance

After receiving the new certificate, the company must update its name on all official documents and with all relevant authorities: 

• Update MOA and AOA to reflect the new name.
• Update PAN and TAN with the Income Tax Department.
• Update GST Registration details.
• Inform all banks where the company has accounts.
• Update all business stationery, letterheads, and websites.
• Update all licenses and permits.
• Display the new company name on all business premises.
• Print the company's old and new names on stationery for two years after the change.