Process to change the name of the company
Name of any company play a key role in signifying its importance and main objective for achievement of goal for which its being incorporated by the person. So it is very important for the owner of the business to take extra precautions and time to decide the name of the Company as it must depict its business objective and the nature of its business. Sometime the name of the company does not reflect its business objective and the nature of business which an owner is carrying on and it such a circumstances it become vital for the owner to change the name of the company so that a layman can easily ascertain the nature of its business. Under the companies act, 2013, change of name of the company is governed by the section 13 of the Act, which regulates the process of alternation of Memorandum of Association of Companies.A. Procedure for change of name of the Company
- First calling of Board Meeting for following purposes:
- A. Work to be done before calling of Board Meeting:
- i. Call board meeting by giving not less than 7 days notice to all the directors of the company;
- ii. Prepare the agenda of the board meeting with respect to the matters to be discussed and decided i.e. changing the name of the company and give its in principal approval for change of name of the company;
- iii. Prepare the attendance sheet of the board meeting.
- B. Work to be done at the time of Board Meeting:
- i. Place before the Board of Director and suggest some new names;
- ii. Pass Board Resolution after suggesting new name;
- iii. Authorize any director or any other person of the company to make an application with ROC for name approval.
- Proceed to file new name under RUN Form with MCA Portal along with following attachments:
- i. Copy of Board Resolution;
- ii. Approval from existing owner of trademark, if required.
- Once the name is approved by CRC, proceed to hold Board Meeting by issuing 7 days clear notice for below mentioned purposes:
- i. Take note of approval of name;
- ii. Pass resolution for holding of EGM/ AGM, for taking approval of the shareholders via Special Resolution.
- iii. Authorization for filing forms with ROC
- Calling of Extra Ordinary General Meeting after complying the due procedure:
- i. Issue 21 days clear notice for holding of EGM;
- ii. Authorize Director/ Secretary for issue of notice of EGM;
- iii. Notice to be sent to following below persons:
- a. All the Members of the Company;
- b. All the Directors of the Company;
- c. Auditor of the Company.
- Hold EGM:
- i. Pass Special Resolution by taking approval of shareholders present in the meeting;
- ii. Approve the alternation and changes in the MOA & AOA;
- Filing of forms with ROC;
- i. File MGT 14 within a period of 30 days from the date of passing of Special Resolution along with following attachments:
- a. Copy of Notice of EGM along with Explanatory Statements;
- b. Certified True Copy of Special Resolution passed at EGM;
- c. Altered MOA & AOA
Once the ROC would be satisfied with the due procedure followed by the respective Company, ROC will approve the name of the Company and updates its Record and issue the revised Certificate of Incorporation to the Company with altered name.Conclusion:
Hope by this Article you had a clear idea about the procedure for change of name of the company, in case you have any concern, please feel free to contact us at firstname.lastname@example.org or call us at +91-8010233173.