CHANGE OF COMPANY NAME

How to Change Company Name

Changing the company name follows a certain legal procedure and requires significant alteration since the Memorandum of Association and Articles of Association need to change. According to Section 13 of Companies Act 2013, the company might change its name by passing a resolution in a general meeting, after receiving the approval of the Central Government.

However, an individual can use the Check Company Name Availability tool to find the company name availability. The Ministry

Passing board resolution when partners are mutually agreed

When partners are not mutually agreed to change the company name, a board meeting should be held for passing the resolution to change the name. The board of directors will discuss the approval and the name change. Also, one Director or CS will be hired to check the availability of the name with MCA. This meeting is called Extra-Ordinary General Meeting for passing a special resolution

Checking name availability

The authorized director will apply the INC-1 Form to the Ministry of Corporate Affairs to check the name availability. This process is the same as the process followed during choosing a name for the company in the beginning. 

RoC will send an acknowledgment letter that states if the company name is available or not. However, this letter is not the confirmation letter to choose the company name. It is a note from RoC to inform the company if the name is available. 

The proposed name should be identical and not the same as the existing company names. The company name should not include the “state” word in the name. The rest of the terms and conditions are the same for choosing a name as it was before.

Approving Special Resolution

After the name is approved by MCA, the company should call for one more extraordinary meeting. A special resolution will be passed by the company for changing its name. The changes in Memorandum and Association of Articles of Association will be done.

Applying to Registrar

Within 30 days of passing the resolution, a special resolution will be filled with RoC. Along with it, MGT-14 Form will be filled which consists of details about the special resolution.

Following documents are required for MGT -14

  • Certified copy of Special Resolution
  • Notice of EGM
  • The explanatory statement to EGM
  • Altered Articles of Association
  • Altered Memorandum of Association

To take central government approval for the name change, MGT-14 is filed and also, the company needs to file INC-24 with the RoC.
After filing MGT-14, INC-24 will be filed since INC-24 specially asked for SRN of MGT-14 filed with RoC. In INC-24, the SRN of INC-1 should be mentioned. Additionally, a copy of the minutes of the Extra-Ordinary General Meeting where the special resolution was passed also needs to be submitted.

Issuance of certificate of incorporation

If the registrar of companies is satisfied with your documents and application, it will issue a new Incorporation Certificate.
The company name change process is incomplete until the new certificate of incorporation is issued by the RoC.

Incorporating company name in MoA and AoA

Once the Incorporation Certificate is issued to the company from RoC, the company name must be changed and incorporated in all the copies of MOA and AOA.

Procedure to Change Company Name

  • A board meeting should be held to pass the special resolution to change the company name.
    After passing the resolution an authorized member can apply for the MCA to check the name availability.
  • After getting approval from MCA, a special resolution for the change of company name is done and also all the changes should be made in MoA and AoA.
  • After special resolution, the name change must be filed with the Companies Registrar.
    The registrar will issue the Incorporation certificate.
  • Make required changes to MOA and AOA after getting Incorporation Certificates.

Frequently Asked Questions

Q - How to Change the Name of a Company?

 The company name change is a legal procedure. To change the name, the Board of Directors has to pass a resolution with ¾ shareholders’ consent. To change the company name, the company has to make an application in RUN form.  

Q - What are the documents required to change the company name?

The documents required to proceed with the company name changing process are copies of the Memorandum of Association, Articles of Association, and Certificate of Incorporation issued by the Registrar. 

How do I change my LTD company name?

Your company has two ways to change the company name. It can either pass a special resolution at the board meeting or all the shareholders can sign a written special resolution. Legaltaxpert helps you to complete the whole procedure within a few days. 

How long does it take to change the company name?

 If you send documents by post, it might take a week. If you file online to change the company name, Companies House will notify you by email when the new name has been approved. You will be certified with “Certification of Incorporation on Change of Name”.