Company Name Change Services
Company Name Change Services by Deepak Prakash & Associates
Changing the name of your company is a significant decision that may arise for various reasons, including rebranding, mergers, acquisitions, or aligning the company name with new business goals. The company name is one of the most important identifiers for a business and plays a key role in shaping its brand image, reputation, and market presence.
At Deepak Prakash & Associates, we provide expert services to help businesses change their company name in compliance with the Companies Act, 2013. Our team of Chartered Accountants is dedicated to ensuring a smooth and hassle-free process for you, from drafting resolutions to filing necessary forms with the Registrar of Companies (ROC). We guide you through every step to ensure legal compliance and avoid unnecessary delays or penalties.
Why Change a Company Name?
There are several reasons why a company may decide to change its name, such as:
Rebranding:
- A company may change its name to refresh its brand, adopt a new identity, or align with changes in the business environment. This is common when a company undergoes a shift in its core business, products, or services.
- A company may change its name to refresh its brand, adopt a new identity, or align with changes in the business environment. This is common when a company undergoes a shift in its core business, products, or services.
Mergers and Acquisitions:
- Companies involved in mergers or acquisitions may choose a new name to represent the combined entity. This helps in aligning the business under a single, unified brand.
- Companies involved in mergers or acquisitions may choose a new name to represent the combined entity. This helps in aligning the business under a single, unified brand.
Market Expansion:
- As companies expand into new regions or international markets, they may find that their current name is not suitable or does not resonate with local customers. A name change helps in reaching new audiences.
- As companies expand into new regions or international markets, they may find that their current name is not suitable or does not resonate with local customers. A name change helps in reaching new audiences.
Legal or Regulatory Reasons:
- A company may be required to change its name if it is similar to an existing business or if the name violates any trademarks, intellectual property laws, or statutory regulations.
- A company may be required to change its name if it is similar to an existing business or if the name violates any trademarks, intellectual property laws, or statutory regulations.
Compliance with Taxation or Business Structure:
- If a company changes its business model, structure, or scope, it might require a name change to better reflect its operations or comply with regulatory norms.
Procedure for Changing Company Name
The process of changing a company name involves several legal steps and filings with the Registrar of Companies (ROC). Here’s a step-by-step breakdown of how the process works:
1. Board Resolution
- The first step in changing the company name is to pass a board resolution in the meeting of the board of directors. The board needs to approve the proposed name and decide to call a general meeting of shareholders to approve the name change.
2. Shareholder Approval
A special resolution needs to be passed by the shareholders in a general meeting. A special resolution is required as it involves an amendment to the Memorandum of Association (MoA) and Articles of Association (AoA) of the company.
The resolution should be clear about the new proposed name of the company and the reasons for the change.
3. Name Approval from ROC
Before filing the special resolution, the company must obtain name approval from the Registrar of Companies (ROC). The company needs to apply to the ROC through RUN (Reserve Unique Name) application to check if the proposed name is available and complies with the requirements of the Companies Act, 2013.
The ROC checks whether the proposed name is available, does not conflict with existing company names, and is in line with statutory norms. Once approved, the company is given a “No Objection” letter for the new name.
4. Filing Special Resolution with ROC
- After receiving approval from the shareholders in the general meeting, the company must file the special resolution with the Registrar of Companies (ROC) in Form MGT-14 within 30 days of the passing of the resolution.
5. Amendment of MoA and AoA
The company must also amend its Memorandum of Association (MoA) and Articles of Association (AoA) to reflect the new name. This requires filing Form INC-24 with the ROC for the change in the company name.
The amended MoA and AoA should include the new company name and other related changes.
6. Filing with the Registrar of Companies (ROC)
After completing all necessary resolutions and amendments, the company needs to file the required forms, including Form INC-24 and the updated MoA and AoA with the Registrar of Companies (ROC) for approval.
Along with this, the company must submit a copy of the special resolution passed by the shareholders.
7. Certificate of Name Change
- Once the Registrar of Companies (ROC) processes the application and approves the name change, the company will receive a Certificate of Incorporation reflecting the new company name. This certificate acts as proof of the official name change.
8. Update Statutory Records and Documents
- After the name change is officially registered, the company must update all statutory records and official documents, including:
- Letterheads.
- Company website.
- Invoices and other business communications.
- GST Registration and other regulatory filings.
- The company must also update its bank accounts, licenses, and any agreements/contracts with the new name.
Documents Required for Company Name Change
To change the name of a company, the following documents are generally required:
Board Resolution:
- A certified copy of the board resolution approving the change of the company name.
- A certified copy of the board resolution approving the change of the company name.
Special Resolution:
- A certified copy of the special resolution passed by the shareholders in the general meeting.
- A certified copy of the special resolution passed by the shareholders in the general meeting.
RUN Application:
- A copy of the approval obtained from the Registrar of Companies (ROC) for the new company name.
- A copy of the approval obtained from the Registrar of Companies (ROC) for the new company name.
Amended MoA and AoA:
- A copy of the amended Memorandum of Association (MoA) and Articles of Association (AoA) with the new name.
- A copy of the amended Memorandum of Association (MoA) and Articles of Association (AoA) with the new name.
Form INC-24:
- Duly filled Form INC-24 for the approval of the name change.
- Duly filled Form INC-24 for the approval of the name change.
Form MGT-14:
- Duly filled Form MGT-14 for the filing of the special resolution with the ROC.
- Duly filled Form MGT-14 for the filing of the special resolution with the ROC.
Payment of ROC Fees:
- Proof of payment of the prescribed filing fees to the Registrar of Companies (ROC).
Benefits of Changing a Company Name
Rebranding and Market Visibility:
- Changing the company name allows a business to refresh its image, align it with its core values, and create a stronger connection with its target audience.
- Changing the company name allows a business to refresh its image, align it with its core values, and create a stronger connection with its target audience.
Improved Customer Perception:
- A name change can help reshape the public perception of the company and make it more relevant to current business goals or industry standards.
- A name change can help reshape the public perception of the company and make it more relevant to current business goals or industry standards.
Attracting Investors:
- A new name can enhance the company’s appeal to potential investors or buyers, especially if it aligns more closely with the company’s products, services, or mission.
- A new name can enhance the company’s appeal to potential investors or buyers, especially if it aligns more closely with the company’s products, services, or mission.
Better Brand Recognition:
- A name change can help the company establish a clearer identity and better brand recognition in the marketplace.
Why Choose Deepak Prakash & Associates for Your Company Name Change?
At Deepak Prakash & Associates, we specialize in managing all aspects of the company name change process. Our team of Chartered Accountants and business experts will guide you through every step of the procedure, ensuring complete legal compliance and a seamless transition to your new company name.
Here’s why you should choose us:
Expert Guidance:
- Our professionals will help you choose an appropriate company name that aligns with your business vision, complies with legal norms, and resonates with your target market.
- Our professionals will help you choose an appropriate company name that aligns with your business vision, complies with legal norms, and resonates with your target market.
Comprehensive Documentation:
- We handle all necessary documentation, including board resolutions, special resolutions, and amendments to the MoA and AoA, ensuring everything is done in compliance with the law.
- We handle all necessary documentation, including board resolutions, special resolutions, and amendments to the MoA and AoA, ensuring everything is done in compliance with the law.
Timely and Efficient Service:
- Our team ensures that all necessary filings are made within the required timelines, so your company name change is processed quickly and efficiently.
- Our team ensures that all necessary filings are made within the required timelines, so your company name change is processed quickly and efficiently.
Seamless Transition:
- We assist with updating all official records, documents, and statutory filings to reflect the new company name, ensuring a smooth transition with minimal disruption to business operations.
- We assist with updating all official records, documents, and statutory filings to reflect the new company name, ensuring a smooth transition with minimal disruption to business operations.
Affordable Pricing:
- We offer competitive pricing for our services, ensuring that changing your company name is cost-effective and hassle-free.
