Home / Change Company Name

Updated on 21 Sep 2021  9.00 AM IST | 4 min read

Know About Company Name Change

There are many reasons to change a company name, and some of them are rebranding, business model change, change of promoters etc. To change a company name, you need approval from shareholders along with approval from the ministry of corporate affairs (MCA). There is no impact of the name change on the legal entity or the existence of a company. Therefore, In this case, a change in the name of the company does not affect the assets & liabilities of a company, but you need to take approval for the name change from the ministry of corporate affairs. If the application is accepted, a new certificate of incorporation will be issued by the MCA to the company. After getting the certificate, it is mandatory to make changes in the MOA & AOA of the company too.

Finacbooks is one of the leading firms in India, having more than 10 years of experience in the name change, trademark registration, GST registration, LLP registration etc. We will try our best to change the name of your company as early as possible. You can fix an appointment with our experts for a free consultation.

Documents Required To Change In Name Of The Company

  • Apply for checking the name availability
    • Form INC-1
  • Applying to registrar
    • Special resolution with ROC
    • MGT-14 – Documents include notice of extraordinary general meeting (EGM), explanatory statement to EGM, certified copy of the special resolution, Altered Memorandum of association (MOA), Altered Articles of association (AOA).
  • Taking approval from the central government
    • INC-24 with ROC
    • Copy of extra-ordinary general meeting (EGM)

Procedure For Company Name Change

The process of change in the name of a private limited company is as follows –

  • Passing a board resolution – The first step in the process of the name change of a private limited company is passing a board resolution when all partners mutually agreed and arrived at a decision to pass a board resolution in the board meeting. In this meeting, the board of directors discuss about changing the name of the company and approve the change in name after checking the availability with MCA. They authorize the director or the company secretary of the company to check the name availability.
  • Checking availability with MCA – To check the name availability with MCA in the second step, the authorized director or company secretary must fill Form INC – 1 to check the name availability with MCA as well as the approval. In response to your filed form, ROC sends you a letter stating that the proposed name is available. It is not the final approval but just the confirmation from ROC that the proposed name is available. Ensure that the proposed name does not match any existing company name and does not include the word "state".
  • Passing special resolution – In the third step, after the name approval by MCA, an extraordinary general meeting (EGM) is to be held and a special resolution is passed in the extra ordinary general meeting (EGM) for changing the company name as well as change in Memorandum of association (MOA) and articles of association (AOA).
  • Applying to registrar – In the fourth step, a special resolution will be filed with ROC within 30 days of passing the resolution. In addition to it, Form MGT-14 will also be filed with the following documents given below –
    1. Certified copy of the special resolution
    2. EGM notice
    3. EGM explanatory statement
    4. Altered MOA
    5. Altered AOA

    After filing MGT-14, the company needs to file INC-24 with the registrar of companies (ROC) to take approval from the central government for name change by paying a prescribed fee. SRN of INC-1 also needs to be mentioned in INC-24. In addition to INC-24, the company needs to submit a copy of the minutes of the extraordinary general meeting too. You have to fill in the following details in INC-24 –

    1. Reason for changing the name of the company
    2. Details about the members who attended the EGM.
    3. Number of members voting in favour or against the passed resolution
    4. Percentage of shareholders
  • Certificate of incorporation – In the last step, ROC will verify all the company’s documents, and if found satisfactory, they will issue a new certificate of incorporation to the company.

    • After getting the incorporation certificate from ROC, the name should be incorporated in all copies of MOA & AOA.

Change Company Name FAQ’S

Form INC-1 is used to apply for checking the name availability with MCA.
The authorized director or company secretary of the company is responsible for checking the name availability with MCA.
The following details need to be filled in by the company in form INC-24 –
  1. Reason for change in the name of the company
  2. Details about the members who attended the EGM.
  3. The Number of members voting in favour or against the passed resolution.
  4. Percentage of Shareholders.
Yes, alteration in the memorandum of association and articles of association is mandatory for a company after issuing a new certificate of incorporation by ROC.
The following e-forms must be submitted:
  1. The existing company must reserve the name via 'RUN'.
  2. Upon approval of the name, MGT-14 (required resolution for amendment of the Memorandum of Association and Articles of Association (MOA and AOA)) must be filed.
  3. eForm INC-24 (Application for Central Government approval of name change) must be filed to give effect to a name change.
The entire procedure is time-consuming. However, it takes around 10-15 days after the application is filed with the ROC.
Is the PAN Number going to change? No, the company's PAN number will remain unchanged as long as the company's constitution remains unchanged. However, we recommend that you make an application to amend the firm's PAN records and receive a new PAN Card with the updated company name.
After a name change, the business must notify all ministries with which it is registered. All stationery, including business cards, letterheads, and display boards, must be updated to reflect the new name. Contracting parties must ratify their agreements after adopting a new name.
Yes. Wherever the company's name is displayed for a period of two years following the change, the former name must also be displayed.
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