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Company Name Change Online with Advisource
Company Name Change
If the current name of your company is not a good fit for your business or if you need to distance your company from negative associations, you can change the name to something that aligns better with your future plans. The legal process for changing a company’s name can be tedious, but Advisource offers a service to make the process easier and take care of most of the tasks for you.
Why Change Company’s Name
There are many reasons why a company might choose to change its name. Some common reasons include:
- Rebranding: A company may change its name as part of a larger rebranding effort to better reflect the company’s values, mission, or target audience.
- Merger or acquisition: When two companies merge, they may choose to adopt a new name that represents the combined entity. Similarly, when one company acquires another, the acquiring company may choose to change the name of the acquired company to reflect the new ownership.
- Legal considerations: A company may change its name to avoid legal issues or to comply with regulatory requirements. For example, the company may need to change its name if it is using a trademarked name or if the name is too similar to another company’s name.
- Improved brand recognition: A company may change its name to be more memorable or easier to pronounce, which can help improve brand recognition and make it easier for customers to find and remember the company.
- Expansion into new markets: A company may choose to change its name when expanding into new markets to better reflect the products or services it offers in those markets.
- Negative connotations: A company may change its name if the current name has negative connotations or is associated with a scandal or controversy.
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Procedure for change of Company’s Name in India
To change the name of a company in India, you will need to follow these steps:
1. Obtain the consent of the shareholders. This can be done through a resolution passed at a meeting of the shareholders or by obtaining written consent from all the shareholders.
2. File an application for name change with the Ministry of Corporate Affairs (MCA). You will need to submit the following documents along with the application:
– A copy of the resolution approving the name change
– A copy of the articles of association of the company
– An affidavit from the directors of the company stating that the company is not carrying on any business and does not have any outstanding liabilities
3. The MCA will review the application and may ask for additional information or documents. Once the application is approved, the MCA will issue a certificate of incorporation with the new name.
4. After the name change is approved, you will need to update the name on all official documents, such as the company’s bank accounts, tax records, and other legal documents. You will also need to inform any regulatory agencies, such as the Securities and Exchange Board of India, about the change.
It is important to note that there may be fees associated with changing the name of a company in India. You should also be aware that certain names may not be approved, so it is important to choose a name that meets the guidelines set by the MCA.
Documents Required to File Company Name change request
To change the name of a company in India, you will need to file Form MGT-14 with the Ministry of Corporate Affairs (MCA) along with the following documents:
1. Notice of the Extraordinary General Meeting (EGM)
2. Certified copy of the special resolution passed at the EGM
3. Explanatory statement to the EGM
4. Altered articles of association (AoA) and memorandum of association (MoA) with the new company name
Once Form MGT-14 is approved, you will need to file the INC-24 e-form within 30 days along with the following documents:
1. Certified true copy of the minutes of the EGM
2. Notice of the EGM
3. Any approval orders received from regulatory agencies (such as IRDA, SEBI, RBI)
4. Resolution agreement detailing the members who voted for and against the resolution
5. Altered AoA and MoA with the new company name
6. Other optional attachments as requested by the MCA
It is important to provide all required documents in order to avoid delays in the approval process