Companies usually change their name to match the name of the group of the companies to avail of the goodwill attached to the name of the group, at times they change their name for some other reasons too such as to match their new line of business etc. Procedure for change of name of the Company both for private companies as well as unlisted public companies are as follows:
1. Conduct a Board Meeting: In the Board Meeting any of the director proposes change of the name of the Company and with the approval of the board, board passes a resolution for application to the respective ROC for availability of the desired name to the Company. One of the directors be authorised to fill the formalities for this application.
E-Form 1A be filed to the respective ROC for availability of the desired name.
2. After confirmation of the desired name by the ROC, another board meeting be conducted in which an general meeting will be called for taking approval of the members on the change of the name of the Company and authorising one of the directors to call the general meeting and file the respective form after approval of the members on the name change.
3. Within 30 days of the approval of the members on the change of the name of the Company by passing special resolution e-Form 23 for intimation of passing special resolution & e-Form 1B shall be filed with the ROC for taking central government’s approval on change of name of the company.
4. When the company receives fresh certificate of incorporation on approval of e-Form 1B Company may start using its new name and shall accordingly change the name on the name plate of the Company or painted on the premises of the Company alongwith change in its stationeries. Company also need to inform the parties dealing with the company such as government authorities, respective courts/authorities if any litigation is going on, employees, creditors, debtors, bankers, auditors etc.
- The issue to keep in mind is the general meeting shall be called and concluded within 60 days of approval of e-Form 1A and form 1B shall be filed within this time limit without any delay.
The information given in this blog is the personal understanding of the writer and shall not be used as a conclusive material the content stated/mentioned here is subject to changes by respective government/authorities in the applicable laws. Writer shall not be liable for any direct or indirect damages caused to any person acting solely on/based upon the information provided herein.
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