Change of company name has required the passing of board resolution, obtaining name approval from MCA
, and passing of a special resolution and applying for approval of new company name to the MCA. If the MCA accepts the application, a new certificate of incorporation is issued, and after obtaining the new certificate of incorporation for the changing name of the company. Hence, the changes must be made to incorporate and change the MOA and AOA of the company as well. Virtual Auditor is the leading services platform in India, offering a variety of services like the company name change, trademark registration, GST registration, LLP registration and more. Virtual Auditor can help you to file for a change of company or LLP name in India. Here, an average time is taken to complete the name change process about 90 working days, and subject to government processing time and client document submission on an appointment with a Virtual Auditor advisor.
Applying to Registrar
A special resolution has filed with ROC within 30 days of passing the resolution with it. Form MGT-14 has also filed, which contain the details about the special resolution. Here, the following documents have submitted with MGT-14 are,
- Certified copy of a special resolution
- Notice of EGM
- The explanatory statement to EGM
- Altered Memorandum of Association
- Altered Articles of Association
Once MGT-14 has filed. The company needs to file INC-24, with the ROC for taking the approval of the central government for a name change along with the prescribed fee. INC-24 will be filed after MGT-14 has filed since INC-24 specifically asks for SRN of MGT-14 filed with ROC. SRN of INC-1 also needs to mention in INC-24. Along with INC-24, a copy of the minutes of an extraordinary general meeting where the special resolution was passed, and also needs to be submitted.
Procedure for changing the company name
Foremostly, A Board meeting has convened to pass a resolution for the name of the company and to authorize a Director or Company Secretary to make an application to the MCA for ascertaining availability of proposed name. At the same Board meeting, a resolution has to convene an extraordinary general meeting for changing the name of the company, and altering the Memorandum of Association and Articles of Association can also be passed.
Check Company Name Availability
Once a resolution has passed ascertaining. Availability of the proposed company name, the authorized person can make a name applied to the MCA. The procedure for name application is similar as that of the name application procedure. Which has followed during incorporation of a private limited company. Therefore, a name must be as per the Companies Act 2013 Naming Guidelines.
Once a name has approved by the MCA for changing the company name. The Company must conduct an extraordinary general meeting and pass special resolution for change of company name. And the consequential changes to the Memorandum of Association and Articles of Association.
Once the special resolution for company name has passed. The special resolution and application for approval must file with the Registrar of Companies. An application for company name must made in Form 1B along with the requisite fee.
Issuance of New Certificate of Incorporation
For further, If Registrar of Companies has satisfied with the name application, the Registrar would issue a new certificate of incorporation. It's important to note that the company name change has said to complete and effective on issuance of new incorporation certificate by the Registrar of Companies.
Make Changes to MOA and AOA
Subsequent to the issuance of the new incorporation certificate. Steps has taken to incorporate new company names in all the copies of Moa, AOA, and certificate of Incorporation issued by the Registrar.