The name of any Company is basically the identity of the entire brand making it the most monumental asset for its growth. The name of every Company is mentioned in the first clause of memorandum of association i.e. said to be the constitution of a particular Company. Now, sometimes there might be a situation where the Company intends to change its name clause whatsoever the reason. Therefore, in this write up, we shall discuss about the procedure, important aspects and statutory costing for change of name of the Company.
| S. No. | Particulars |
| 1. | Give notice to Directors along with the agenda and notes on agenda to convene the Board Meeting at least seven days before the date of the meeting in compliance with the Secretarial Standards I to consider the name change. |
| 2. | Convene the Board Meeting to decide upon the new name and accordingly, vesting the authority for its application. |
| 3. | File an application for reservation of name with ROC through “Reserve Unique Name” service available on MCA portal in accordance with Rule 8 and 9 of the Companies (Incorporation) Rules, 2014. Attachment: • Certified true copy of resolution passed for change of name clause • Approval of Owner of Trade Mark or the applicant of such application |
| 4. | Within 2-4 days, the approval letter/query shall be received. |
| 5. | Upon approval of the intended name, send notice to convene a meeting of the Board of Directors for the following: • Decide upon the day, time, date and place to convene extra ordinary general meeting (“EOGM”) • Approval of draft notice to convene EOGM. • Approve the draft memorandum of association • Approve the draft articles of association. |
| 6. | Send notice to members to convene EOGM of least 21 clear days in compliance with the Secretarial Standards II. |
| 7. | Convene EOGM to pass special resolution to take shareholders approval w.r.t. change of name of the Company. |
| 8. | File MGT-14 within 30 days of passing the special resolution. Attachments: • Certified true copy of the special resolution along with the explanatory statement. • Altered memorandum of association • Altered articles of association • Notice of the convened EOGM. |
| 9. | File INC-24 for seeking central government’s approval (power delegated to ROC) after filing MGT-14 as the forms asks for the SRN of MGT-14. Attachments: • Minutes of the members meeting • Certified true copy of the special resolution along with the explanatory statement. • Altered memorandum and articles of association of the Company. |
| 10. | On approval of Form INC-24, the new certificate of incorporation in Form INC-25 shall be issued to the Company. |
i. The approved name shall be reserved for a period of sixty days.
ii. The change of name shall not allowed for following Companies:
iii. It is not important that the changed name should reflect the object of the Company, However, the same is always recommendable.
iv. In case of conversion of Company from private to public, the deletion of word “private” does not involve change in name clause procedure.
| S. No. | Particulars | Amount (in Rs.) |
| 1 | Application for reservation of name (RUN) | 1000 |
| 2. | Filing of e-Form MGT-14 | Depends upon paid up capital. Shall vary between 300-600 |
| 3. | Filing of Form INC-24 | 1000 |
| TOTAL | 2300-2600 | |