Change in Name of Company
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Know more about Change in Name of Company
Company name plays a vital role in its existence; the requirement to change the name can arise because of any reason. The Companies have the liberty to change the name at any time and it is possible by following the prescribed process, with MCA. It is necessary to get the approval from the central government before changing the name, on change of name of Company MCA issues the New Certificate of Incorporation.
Who can apply for change in name of company?
The Company who is complaint with Annual Filings with ROC can apply for Name Change.
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Benefits of Change in Name of Company
Change in the Main Object
It is mandatory to change the name of the Company in case if the main object of the Company is changed, to make it align with the new object. Thus, in case of a change in the Main object, the requirement of name change arises.
Company Name is not similar with the Brand Name
In some scenarios, it may happen that companies name and the Brand name is not similar, the Company which owns the Brand name is different and the Brand name through which the company has earned goodwill is different, in those cases the company may think to apply for a name change.
On Direction of Central Government
If the Company is registered through inadvertence or otherwise, by a name which is identical and resembles a company/LLP Name which is already in existence then, in that case, the Central Government may direct by an order to change the name of the Company.
To widen the scope
If the Name of the Company is such which is restricting the scope of the Company, thus the directors of the Company may think for change of Name of Company, by rethinking the name of the company which gives justice to the business of the Company
Required Documents for Change in Name of Company
- PANCard of the Company
- Certificate of Incorporation
- Latest MOA & AOA
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Change in Name of Company
Yes, as both MOA & AOA contains the name of the Company, it is necessary to alter the MOA and AOA to give the effect of New Name.
The New Name is effective when the approval of the Central Government is received and from that date of issue of new Certificate of Incorporation.
Yes, it is mandatory to apply for name change in the PAN Card of the Company.
As of now, under the current E-Form, maximum of 2 names can be applied.
As a part of Compliance, the Company needs to show the old name everywhere along with the New Name for a minimum of 2 years.
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