Change of Name of a Company may be because of many reasons such as Change of Object of Company, Rebranding, Change of Management etc. A Company can Change its name with approval from Shareholders of the Company and Ministry of Corporate Affairs by following the procedure for Change of Name. In this article we will discuss about Procedure for Change of Name of Private Limited Compay.
A Private Limited Company may change its name anytime after its incorporation. Change of Name of Private Limited company does not create a new entity and it does not affect the rights and obligations of the company neither is it going to have any effect on any legal proceedings by or against the company.
The detailed procedure for Change of Name of Private Limited Company is as under:
The first step towards Change of Name of Company is to convene meeting of the Board of Directors of the Company. In this meeting resolution of Change of Name is to be passed authorizing one of the Directors to make an application with the Ministry of Corporate Affairs (MCA). A resolution to convene Extraordinary General Meeting (EGM) is also passed seeking Shareholders’ approval for Change of Name Clause of the Memorandum of Association of the Company.
Apply for Company Name Approval
The Authorised person may apply for Company Name Approval. The procedure of name approval is similar to that of Company Name approval during Company Registration. It generally takes one to two days for name approval.
Extraordinary General Meeting
The Extraordinary General Meeting of the Company is convened on approval of name by MCA. Here a special resolution for Change of Name Clause of the Memorandum and Articles of Association is passed.
Application for Change of Name
An application for Change of Name of Company is made to the MCA post passing of Special Resolution in the EGM in prescribed manner and form by paying requisite Government Fees.
Issuance of New Certificate of Incorporation
The Registrar of Companies will issue fresh certificate of incorporation post approval of application for Change of Name. The change of name is effective from the date on which the new certificate of incorporation is issued by MCA. On receipt of new certificate of incorporation, changes can be made to the Memorandum and Articles of Association
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