How to change Company Name
Updated: Aug 20, 2021
A Limited Company is identified by a name and the selection of a name is as per the discretion of a company. In other words, a company can alter its name whenever it wants to. However, the name change should be as per the regulations and procedures of company laws.
Reasons for Changing company’s name
Change of business activity of the company.
Change to reflect the brand of the company.
Change as per government order.
Conditions to fulfill for Changing Company’s Name:
A time period of at least 1 year should have elapsed from the last name change.
At least 50% of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name, or, the amount invested in the new activity/project is at least 50% of the assets of the company.
The new name along with the old name shall be disclosed through the websites of the respective stock exchange/s where the company is listed for a continuous period of one year, from the date of the last name change.
Effects of changing company’s name
The change of name, by no means, shall affect any rights/obligations of the company and any legal proceedings continued against/by the company in its former/new name.
The legal proceedings commenced by the company in its old name can be continued under the new name.
The entity of the company continues despite such change.
The company is not dissolved nor does any new company come into existence.
By such change, the constitution of the company is not changed, only the name changes.
Documents required for changing a company’s name
Certified copy of Board Resolution
Current Certificate of Incorporation
MOA and AOA in word format
List of Directors and Shareholders
Proposed Name(s) in order of preference.
Digital Signature of the authorized director
Letterheads (approx 10) and rubber stamp of director
FAQs
Can I check the availability of my proposed name for my business before applying to the MCA? -Yes, you can check the name availability before applying to the MCA.
Who can approve the name change? -The Registrar of Companies in the respective states has the authority to approve such change. Please note that before filing for the name, one must ensure that the company should have filed all documents including the balance sheet, etc. of the previous year.
Will the Registrar of Companies issue the Fresh name certificate after the name is changed? -Yes, the Registrar of Companies will issue a fresh certificate of incorporation after approval of all documents.