CHANGE IN NAME OF COMPANY

 Rebranding, mergers, acquisitions, or a change in the business focus.

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Change in Name of Company

A change in the name of a company refers to the process of altering the legal name under which the company operates. This change may be necessary due to various reasons such as rebranding, mergers, acquisitions, or a change in the business focus.

  • Board Resolution: A board resolution approving the change in the name of the company needs to be passed by the directors.
  • Special Resolution: Shareholders’ approval through a special resolution is required for changing the company’s name.
  • Memorandum and Articles of Association (MOA and AOA): The MOA and AOA of the company must be amended to reflect the new name.
  • Name Approval Certificate: The company must obtain a Name Approval Certificate from the Registrar of Companies (RoC) for the proposed new name.
  • Form INC-24: This form needs to be filed with the RoC along with the necessary documents to initiate the process of name change.
  • Conduct Board Meeting: The board of directors must convene a meeting to discuss and approve the change in the company’s name.
  • Conduct Shareholders’ Meeting: A special resolution must be passed by the shareholders, approving the change in the company’s name.
  • Obtain Name Approval Certificate: Apply to the RoC for the availability and approval of the new company name.
  • File Form INC-24: Prepare and file Form INC-24 along with the required documents, such as the board and shareholders’ resolutions and the amended MOA and AOA.
  • Issuance of New Certificate of Incorporation: Upon successful processing of the application, the RoC will issue a new Certificate of Incorporation with the revised name.

Any registered company can apply for a change in its name by following the prescribed legal procedures and obtaining the necessary approvals from the board of directors and shareholders.

  • Rebranding Opportunities: Changing the company’s name provides an opportunity for rebranding, refreshing the company’s image, and aligning it with its current business objectives.
  • Enhanced Market Perception: A well-thought-out name change can positively impact how the company is perceived in the market, attracting potential customers, investors, and partners.
  • Expansion and Diversification: A name change may signify the company’s expansion into new markets or its entry into different business verticals, facilitating growth and diversification.
  • Legal Compliance: A name change ensures compliance with the legal requirements of the RoC and other regulatory bodies.
  • Competitive Advantage: A strategic name change can help the company differentiate itself from competitors and stand out in the market.
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FAQ

  1. Can any company change its name?
    Yes, any registered company can apply for a change in its name by following the legal procedures and obtaining the necessary approvals.

  2. How long does it take to change the name of a company?
    The time required to change the company’s name varies and depends on factors such as the workload of the RoC and the completeness of the application.

  3. Can a company choose any name for the change?
    The new name must comply with the guidelines and regulations set by the RoC, including uniqueness, availability, and relevance.

  4. Are there any restrictions on changing a company’s name?
    Yes, certain restrictions and guidelines exist regarding the use of certain words, trademarks, or names that may conflict with existing companies or violate the law.

  5. Is it necessary to update all legal and business documents after changing the company’s name?
    Yes, it is important to update all legal and business documents, including contracts, licenses, bank accounts, and other official records, to reflect the new name of the company.

**Please note that while these answers provide a general understanding, it is always advisable to consult with professionals or legal experts for specific guidance to your unique circumstances.