Procedure for Company name change To change the name of a business, the following five actions must be taken:
- Step 1: Adoption of a Board Resolution
There will be a board meeting at which a resolution to change the company's name will be passed. The board of directors should approve the new name and assign one of them or a company secretary (CS) to validate the availability of the new name with the MCA.
- Step 2: Confirming the Name's Availability
The approved individual must make an application to the MCA using form INC-1 to confirm the availability of the chosen name. In addition, you may run a search utilising MCA's "check company name" function. A trademark search must be conducted on the suggested name.
Before checking their availability, it is advised that you create a list of four to five potential business names to allow for the likelihood that these names are already taken or in use.
- Step 3: Adoption of an Extraordinary Resolution
After establishing that the new name is available, the corporation should convene an extraordinary general meeting (EGM). A special resolution will be passed to change the name and, if required, update the AoA and MoA.
- Step 4: Submitting an application to the Registrar.
The special resolution will be delivered to the RoC together with the form MGT-14, which contains the resolution's specifics, within 30 days after passage.
The RoC must obtain form INC-24 and the requisite fee within 30 days of receiving the MGT-14. This is required to obtain central government approval for the name change. These two forms must also accompany some papers.
- Step 5: Issuance of the Certificate of Incorporation
The RoC will issue a new certificate of incorporation reflecting the name change following full approval of the application and all accompanying documentation.
This is a summary of the complete procedure. KNAP Advisory India will handle all drafting, form filling, and submission on your behalf, simplifying the process for you.
Documents required to change Company Name
The following documents are necessary for the change of a company's name:
The RoC must submit Form MGT-14 along with the following documentation to get started:
- Notice of an Extraordinary General Meeting
- Certified copy of the special resolution of the EGM
- Explanatory statement and minutes of EGM
- A copy of the modified Articles of Association and Memorandum of Association including the new business name.
Once the MGT-14 is validated, the INC-24 e-form should be filed together with the following documents within 30 days:
- An authenticated copy of the EGM minutes
- Notice of an Extraordinary General Meeting
- A copy of any approval order received from the IRDA, SEBI, or RBI, if applicable.
- A copy of the resolution agreement, which includes the names of members who supported and opposed the motion.
- A copy of the modified Articles of Association and Memorandum of Association including the new business name
- Additional papers pertinent to any desired additional information as optional attachments.
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