First Auditors platform is a technology-driven platform that offers specialized legal and financial advisory services in India.
A company may change its name by simply passing a resolution in its general meeting, according to Section 13 of the Companies Act of 2013. However, approval from the Central Government and an update with the Registrar of Companies (RoC) are required for the change to take effect. The company's Articles of Association and Memorandum of Association are also significantly altered.
Changing your company name can help align it with your current business vision, enhance branding, or comply with legal requirements. The process involves obtaining shareholder approval, filing the necessary forms with the RoC, and updating your business documents and licenses.
Please keep the following points in mind when a company's name is changed.
Any company looking to update its name for branding, legal, or strategic reasons needs to follow the proper procedure and notify the ROC.
Changing company name provides several advantages for businesses.
MGT-14: This e-form, along with the following documents, is to be filed with ROC on the Ministry of Corporate Affairs portal. After MGT-14 is approved, the INC-24 e-form is filed with the ROC within 30 days.
The process follows a defined sequence of steps to change the company's name.
First, a resolution must be adopted by the board of directors proposing the name change. The board meeting should be scheduled in advance and include all necessary employees.
A special resolution must be passed by the shareholders in an Extraordinary General Meeting (EGM). A notice of the EGM is sent to all members, and the resolution is approved.
Submit an application to the ROC for approval of the new name. Ensure the new name is not similar to existing company names and complies with naming guidelines.
File Form MGT-14 with the ROC along with the special resolution and related documents. After MGT-14 is approved, file Form INC-24 within 30 days with the amended MoA and AoA.
Upon approval, the ROC issues a new Certificate of Incorporation reflecting the new company name. The name change is now complete and official.
Update all business documents, licenses, bank accounts, GST registration, and inform clients and stakeholders about the name change.
We manage every step, document, and filing with the ROC so you can focus on your business.
We check the availability of your proposed new name and ensure it complies with naming guidelines.
Assistance in drafting board and special resolutions for name change.
Guidance on board meetings, EGM notices, and shareholder compliance.
Complete filing of Form MGT-14 and INC-24 with the Registrar of Companies.
We respond to any queries or clarifications raised by the ROC.
Regular follow-up with ROC to ensure timely processing of your filing.
Assistance in amending the Memorandum and Articles of Association with the new name.
Help preparing and organizing all required documents for the process.
Guidance on updating all records, licenses, and informing stakeholders.
Talk to a First Auditor specialist today — get a clear fee quote and document checklist before you start.
Copyright © 2024 First Auditor,All Rights Reserved.