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A company is an artificial judicial person and separate legal entity from its owners. Thus the name of company holds such significant position. If the majority members of the company wishes to change the name of company or by the act of conversion of company from public to private or vice a versa then the requirement to change in name of company arises. In such situation, a company must follow the prescribed procedure under companies act to change the name of company. This shall be considered as the major event of the company because the consequences of change in name are very prominent in nature. Such as changes to be carried out in new PAN card, changes in GST registration, Changes in all the certifications that company acquired before the name change and so on. So this process requires much attention after change in name also.
A company exists as an independent legal entity which maintains separation from its ownership group. A corporate entity’s designation carries substantial weight because it embodies its business realm persona.
A company exists as an independent legal entity which maintains separation from its ownership group. A corporate entity’s designation carries substantial weight because it embodies its business realm persona.
A company needs to follow these steps to carry out the change in name of company.
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.
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.
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.
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.
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.
On getting approval of new name Company should carry out following:
A company cannot change its name if:
For a successful name change, all statutory compliances and financial obligations must be cleared beforehand.
