What is Name change of Company?
A Company name can be changed by the promoters at any time after its incorporation. Some of the major reasons for change of company name are change in business, change of promoters, branding etc. your name cause brand confusion, legally forced to change your name or due to conversion of public into private and vice versa.
Is it a good idea to change a company name?
It depends on how much your brand is known at this time and how many customers or potential customers know your name. Your current customers will not care if it is changed, they know you, are comfortable with you, and there is not much risk there. You need to think bigger and further in the future. Change of name must consider if that results in to any trade mark conflict.
Can we change the name of Private / Public Ltd company?
The name adopted by a private / public limited company during incorporation can be changed later. To change the name of a private / public limited company, the consent of the shareholders through a special resolution and MCA approval are required. The change of name of a company will not create a new company or new entity.
How long does it take to change a company name?
The name change has certain procedure to follow.
Pass board resolution with the proposed name.
First check the availability of the changed name with ROC filling Run form for name approval. For 20 days name will be available.
Pass special resolution of the shareholders and submit form MGT 14 within 30 days from the date of passing special resolution
File INC 24 within 30 days from the general meeting where special resolution is passed.
From the date of submission of if INC 24 and MGT 14, ROC will take about 7 days to issue the certificate of name change.
