Change Company Name
Your company name is your own unique identity for your business. However, there might come a time when you may want to change the name of your company.
Reasons for Company Name Change
There may be several reasons for a company name change. Some of them are:
- It is possible that your business name is too small to represent all your products.
- You may want to change from a generic name to a more specific one.
- Your name may have become irrelevant or offensive due to changing times.
- The present company name is either difficult to remember or to pronounce.
- Your name is not searchable online.
In India, you change your company name under the Companies' Act, 2013.
Steps to Change Company Name
Section 13 of Companies Act says that a company can change its name by changing its name clause in the Memorandum. But this change will be effective only after the Central Government approves it.
First of all, you need to change your name clause by:
- Calling a board meeting.
- Checking for name availability with the ROC.
- Getting approval from members in the general meeting.
- Filling forms INC 24 and MGT 14.
Documents for Company Name Change
You will need the below details and/or documents for your company name change:
- Corporate Identity Number (CIN) of the company.
- Service Request Number from INC 1 as well as MGT 14.
- Reasons for company name change.
- Original name of the company.
- Number of members.
- Details of shares held by the members.
- DSC of applicant.
- DIN, PAN, or Passport of applicant or director.
- Certified true copy of minutes of meeting.
- Approval from relevant authorities such as IDBI, RBI, SEBI etc.
- A certificate from chartered accountant in respect of turnover (only in case of change of main activity).
Fee for Company Name Change
The government fee ranges between Rs. 2,000 and Rs. 20,000. It depends on the type of company and also on its share capital. The professional fee depends as per your requirement.
Timeline for Company Name Change
There is no fixed timeline. This is because it depends on the time taken to fill various forms. It also varies with the time taken by you to provide us with all relevant details.
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