Change Company Name

Under the Companies Act, 2013, a company or LLP operates as a distinct legal entity, identified by its name as specified in its Memorandum of Association (MoA) and Articles of Association (AoA). However, circumstances such as shifts in objectives, management, business models, or rebranding may necessitate a change in the entity's name.

The name of a company or LLP can be changed post-incorporation as per the procedure outlined in Section 13 of the Companies Act, 2013. Changing the name requires shareholder approval and approval from the Ministry of Corporate Affairs (MCA). Importantly, altering the name does not affect:

• • The legal identity or ongoing operations of the company or LLP
• • Its rights and obligations
• • Legal proceedings initiated under the previous name

Thus, a name change does not establish a new legal entity rather, it preserves the entity's existing assets, liabilities, and continuity under a new name.

The process of changing a company's name involves several steps: initiating with a board resolution, obtaining name approval from the MCA, passing a special resolution, and applying for the new name's approval. Upon acceptance by the MCA, a new certificate of incorporation reflecting the updated name is issued. Subsequently, amendments to the MoA and AoA are made to reflect the new name. Lexprosoft Providers offer comprehensive assistance in navigating these legal procedures and documentation involved in effecting a name change for an entity. The entire process typically spans 20-25 working days.

It is crucial for the renamed company to notify other entities in which it holds shares to replace old certificates with new ones accordingly.

Documents Required for Change Company Name

Here is a refined and professionally rephrased version of the requirements for changing the name of a company:

Advantages of Appointing or Resigning/Removing Director

1. Introduction of New Expertise: Each department's input is crucial for business growth. A new director can bring specialized knowledge, innovation, and enhanced work ethics to the company.

2. Absence of Ownership Obligation: Directors oversee daily operations without the requirement to subscribe to share capital. Consequently, there is no encumbrance on ownership or voting rights of shareholders with the appointment of a new director.

3. Addressing Inadequacies: It is essential for a company to mitigate any inefficiencies stemming from current directors who may not be performing effectively due to personal reasons, aging, or other factors. Adding or replacing a director can alleviate such shortcomings.

4. Compliance with Legal Requirements: Private limited & Section 8 companies are legally obligated to maintain a minimum of two directors, Public limited & Nidhi companies are legally obligated to maintain a minimum of three directors and One Person Company are legally obligated to maintain a minimum of one director . Ensuring adherence to this statutory requirement is critical, and the number of directors should not fall below this prescribed limit.

These considerations underscore the strategic and regulatory importance of directorship changes within a company, facilitating improved governance and operational efficacy.

Procedure for Registration

Here is a refined and professional version of the steps involved in changing the name of a private limited company:

Step 1:

: Board Resolution: : The board of directors must pass a resolution authorizing the change of name for the private limited company. The resolution should also empower a director or company secretary to submit the application to the Ministry of Corporate Affairs (MCA).

Step 2:

Name Availability Check: The authorized person (director or company secretary) submits the application to the MCA to check the availability of the proposed new name. This process aligns with the procedures followed during the initial incorporation of the company, ensuring adherence to the naming guidelines stipulated in the Companies Act, 2013.

Step 3:

Special Resolution: Upon approval of the new name by the MCA, the company convenes an extraordinary general meeting (EGM) to pass a special resolution approving the change in the company's name. Corresponding changes to the Memorandum of Association (MoA) and Articles of Association (AoA) are also approved during this meeting.

Step 4:

Approval of Company Name Change: Following the EGM, the company files Form MGT-14 with the Registrar of Companies along with the requisite fee prescribed by the MCA for approval of the name change. This step is pivotal, as it signifies official approval from the regulatory authority.

Step 5:

Issuance of New Certificate of Incorporation: Upon satisfactory review of the application, the Registrar of Companies issues a new certificate of incorporation reflecting the changed name. This certificate confirms the legal change of the company's name, and all future correspondence and legal documents will reference the new name once it is incorporated into the MoA and AoA. Additionally, Form INC-24 (Application for approval of the central government for a change of name) must be filed to formalize the change.

Step 6:

Amendment of MoA and AoA: With the new certificate of incorporation in hand, amendments to the MoA and AoA are made to reflect the updated name. This finalizes the name change process. While the company receives a new certificate of incorporation with the revised name, all existing legal obligations and agreements remain unaffected.

This structured approach ensures compliance with statutory requirements and facilitates a seamless transition to the new corporate identity.

Choose Lexprosoft for Change Company Name

Lexprosoft provides professional services for changing your company's name, ensuring a smooth and legally compliant process. From drafting and filing necessary documents to obtaining approval from the Registrar of Companies (ROC), Lexprosoft handles every step with precision. Whether you're rebranding, reflecting a structural change, or avoiding name conflicts, their tailored solutions ensure your new name aligns with your business goals and complies with regulatory requirements. Trust Lexprosoft for a seamless and hassle-free company name change experience.