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Overview of Company Name Change
A company may change its name by simply passing a resolution in its general meeting, according to Section 13 of the Companies Act of 2013. However, approval from the Central Government and an update with the Registrar of Companies (RoC) are required for the change to take effect. The company's Articles of Association and Memorandum of Association are also significantly altered.
Please keep the following points in mind when a company's name is changed
- Any rights/obligations of the company and any legal proceedings continued against/by the company in its former/new name are unaffected by the name change.
- However, once the new name has been registered by the Registrar of Companies, any new legal proceedings against the company in the former name are no longer valid (RoC). The company should be treated as non-existent under its previous name. The new name, however, can be substituted by amending the plaint.
- Legal proceedings initiated by the company under its previous name may be continued under the new name.
- Despite the name change, the company remains the same.
Documents Required for Changing the Name of a Company
MGT-14: This e-form, along with the following documents, is to be filed with Roc (Registrar of Companies) on the Ministry of Corporate Affairs portal.
After MGT-14 is approved, the INC-24 e-form is filed with the Roc on the Ministry of Corporate Affairs Portal within 30 days, along with the following documents.
- Extraordinary General Meeting Notice
- A certified copy of the Egm's special resolution
- Egm's explanatory statement
- Copies of the amended Memorandum of Association (Moa) and Articles of Association (AoA) with the new company name
- A certified true copy of the company's EGM minutes
- Notification of the EGM
- If applicable, a copy of any approval order received from other authorities such as IRDA, SEBI, RBI, and so on.
- Copy of the resolution agreement, indicating who voted for and against the resolution.
- Copies of the modified MoA and AoA with the new company name
- Other documents pertaining to any other information requested as optional attachments.
FAQ
What is the Procedure to Change the Name of a Company?
The steps involved in the procedure are Convene Board Meeting, Apply for Name Approval, Hold Extraordinary General Meeting, File Special Resolution and Application with ROC, Acquire a new Certificate of Incorporation.
Which Forms are required to be filed for the Change of Company Name in India?
The forms required are RUN (Reserve Unique Name) Form, MGT 14, and INC 22.
How long does it generally take to change the company name in India?
It usually takes around a time period of 3 to 4 business working days to change the company’s name on the Companies House register in India.
Does the clause requiring a change in name require the payment of stamp duty again?
No, the stamp duty is typically paid at the time shares are allocated. Furthermore, the acceptance of a new set of memoranda and articles is not implied by the name change.
What will happen in the case where, for any reason, the reserved name of the company gets expired?
In such a case, the company name will have to re-apply for the name reservation. Also, it is always recommendable to attach a copy of the previous name approval letter that got expired.
Which resolution must be adopted in India in order to change the name of the corporation?
An Extraordinary General Meeting must be held in order for the board of directors to adopt a Special Resolution.
How does one notify MCA of a change to the Object Clause of the MOA when the company name has changed?
If a business wants to alter the MOA's object clause, it can do so by adopting the required resolution and submitting eForm MGT 14.
What paperwork is needed for a company name change?
DSC, updated MOA and AOA, Certificate of Incorporation, PAN Card, and the Company's Meeting Minutes are necessary documents.
How long does a name continue to be reserved?
For 60 days beginning on the day of name reservation, a name is reserved.