Change in name of company
Change in name of company
Brief about change in name of company
What leads to change in name of company?
- If the promoter/directors/members of the company voluntarily wants to change the name.
- On conversion of company from Private to Public and vice a versa.
What is the procedure to change the name of company?
A company needs to follow these steps to carry out the change in name of company.
1) Hold Board Meeting of Directors: The company shall ask for the permission of directors regarding change in name by holding board meeting. In this board meeting, company shall authorize a director who shall proceed further for application to change in name of ROC and sign all the necessary forms for the purpose.
2) File Form RUN to ROC: Form RUN is a name application form to be filed by company. On receiving this form, ROC will check whether the proposed name is available and the proposed name is proper as per the name eligibility guidelines issued by MCA. If the name is proper in all respect, the registrar may approve the name. Or else another chance may be given for application of another name.
3) Hold the General Meeting: On getting approval of name, the company shall hold the general meeting of members of the company seeking their consent to change the name of company and pass the special resolution regarding getting the consent for the same.
4) File form MGT-14: Form MGT-14 is for conveying any special resolution passed y company. The company has passed special resolution for change in name in general meeting. Thus company is required to intimate this decision by filing form MGT-14 to ROC.
5) File Form INC-24: Within 30 days of passing special resolution, the company must file form INC-24 asking central government for approval of change in name. On approval of this form, ROC will issue fresh certificate of incorporation to the company containing new name.
What should company do after change in name?
On getting approval of new name Company should carry out following:
1) Print the new share certificates with new name
2) change the common seal of company
3) change in PAN, TAN
4) Change in all the bank accounts
5) Change in GST registration
6) Change in board outside the registered office of company
7) Changes in the stationary of company
8) Change in all other certificates obtained by company earlier
9) Intimate all the parties of company whether suppliers or customers regarding change in name
Which company can not apply for change in name?
1) which has not filed annual returns or financial statements due for filing with the Registrar or
2) which has failed to pay or repay matured deposits or debentures or interest thereon
FAQS
On conversion of company from private to public and vice versa, its mandatory to change the name.
MGT-14 needs to be filed within 30 days of passing special resolution.
Form INC 24 is Application for approval of Central Government for change of name.
1) Notice along with Explanatory Statements. 2) Certified True Copy of Special Resolution. 3) Altered in MOA & AOA. 4) Minutes of General Meeting
MGT 14 is the form to intimate the ROC about any special resolution filed by company.
1) Certified True Copies of the Special Resolutions along with explanatory statement; 2) Copy of the Notice of meeting send to members along with all the annexure; 3) A printed copy of the Memorandum Article of Associations. 4) Copy of Attendance Sheet of General Meeting. 5) Shorter Notice Consent, if any.
INC-24 needs to be filed within 30 days of passing special resolution.
