(Section 13 of the Companies Act, 2013 deals with alteration of Name Clause of Memorandum of Association. The rights and obligations of the company are not affected by the change of name of the Company. If there are any legal proceedings by the company or against the company, the same maybe continued in its new name.
Company is also required to inform its stakeholders, bankers and people with whom they have entered into agreements about the change of name.)
(Company being a legal entity must have a name of its own to establish its separate identity. The name of the company is a symbol of its independent corporate existence. The first clause in the Memorandum of Association of the company states the name by which a company is known the change in name entails change in the Memorandum of Association and Articles of Association of the company.
A company may decide to change its name for various reasons including change of object of the business, change of management, rebranding etc.
The Company may adopt any suitable name provided it is not undesirable, identical with or resemble to the name of an existing company.
The name of the company can be changed at any time with the approval of shareholders by passing a Special Resolution.)