Whether you’re starting a new company or undergoing a complete rebranding, the process of renaming your company can be both exciting and intimidating. Questions about legality, paperwork, and procedures may arise.
In India, there are specific requirements for companies that want to change their registered name. This article will delve into the legal process involved in renaming your business in India, including the documents you’ll need to submit and the steps you must take to ensure that everything is legally sound. Read on to learn more about how to navigate this tricky process and get it right the first time.
Reasons to want to change your company name
There are many reasons why you might want to change your company name. Maybe your business has expanded into new markets and you want a name that reflects your broader scope. Maybe you’ve merged with another company and need to come up with a new, unified brand. Or maybe you simply feel it’s time for a fresh start.
Whatever the reason, there are some legal requirements and procedures you need to follow in order to rename your company in India.
Here’s what you need to know:
1. You must first get an approval from the Registrar of Companies (ROC).
2. The next step is to file an application with the ROC, along with certain supporting documents.
3. Once your application is approved, you will need to publish a notice of the proposed name change in at least two newspapers (one local and one national). The notice must contain the old and new names of the company, as well as the date of effect of the change.
4. You will also need to post a notice at your registered office, as well as on your website (if you have one).
5. After following all these steps, if there are no objections within 60 days, you can proceed with changing your company name.
For a Private Limited Company
When it comes to a Private Limited Company, the name that was adopted by the company at the time of incorporation can be changed later on. The procedure of changing the name of the company involves the consent of the shareholders through a process of a special resolution. The detailed process is listed below.
The procedure for changing the name of a Private Limited Company
Step 1 : Resolution of the board
The first step is to arrange a board meeting to discuss the change of the company name and to also authorize a director or a company secretary to prepare an application to be sent to the MCA for checking the availability of the proposed name for your business.
Step 2: Check the name and its availibility
Once the resolution of the board meeting has been passed ascertaining the proposed name’s availability, the authorized person should make a name application to the MCA. The procedure followed here is similar to the name application procedure that is followed during the incorporation of the private limited company. Thus, the name should be as per the company’s act 2013 guidelines.
Step 3: Passing the resolution for company name change
Once the MCA has approved a name, the company must hold an extraordinary general meeting and pass a special resolution to change the company name and consequent amendments to the articles and articles of association.
Step 4: Application of approval to change company name
After approval of the special resolution for the change of name, the special resolution and the application for approval of the change of name must be submitted to the commercial register. The request for a change of business name must be submitted on Form 1B along with the required fee.
Step 5: Issuing a new certificate of incorporation
Once the Registrar of Companies is satisfied with the application for a change of company name, the Registrar will issue a new certificate of incorporation. It is important to note that the change of company name will be deemed complete and effective upon the issuance of the new Certificate of Incorporation by the Registrar of Companies.
Step 6: Making changes to AOA and MOA
Once the new incorporation is issued, steps must be taken to include the new company name on all copies of the incorporation, articles of incorporation and registrar-issued incorporation.
Renaming a company is a significant decision that can bring many benefits, such as a refreshed image, improved brand recognition, and increased market appeal. However, the process is not as simple as just choosing a new name. There are numerous legal implications that must be considered and adhered to, making it a complex and time-consuming process.
To ensure that the company renaming process is carried out legally and efficiently, it is recommended to consult with an efilings expert. An efilings expert can help you navigate through the legal requirements and ensure that the new name is in compliance with the law. They can assist you in updating the company’s articles of incorporation, registering the new name, and updating contracts and business licenses. Additionally, an efilings expert can help you avoid potential legal issues and ensure that the process is carried out smoothly and efficiently.
While a company name change can bring many benefits, it is important to be aware of the legal implications and take a comprehensive approach to the process. An efilings expert can help guide you through the complex process, ensure compliance with the law, and make sure that the new name is registered and recognized correctly. By working with an efilings expert, a company can successfully transition to its new name and reap the rewards of a well-planned and executed renaming process.