Company Name Change: Process and Requirements for Legal Compliance

What is Company Name Change?

A company name change refers to the process of altering the official name of an existing company as registered with the Ministry of Corporate Affairs (MCA). Companies may change their names for various reasons, including rebranding, mergers, or entering new markets. This change must comply with the legal formalities as per the Companies Act, 2013 and the regulations set by the MCA.

Reasons for Changing a Company Name

1. Rebranding
   To refresh the company's image or align the name with new business objectives, product offerings, or services.
2. Mergers and Acquisitions
   When companies merge or acquire one another, a name change may be required to reflect the new corporate identity.
3. Geographical Expansion
   Companies expanding into new markets might opt for a name change to cater to local cultures and preferences.
4. To Avoid Confusion or Trademark Issues
   The company may wish to avoid confusion with another existing business or address trademark disputes.

Process for Changing a Company Name

1. Board Resolution
   The first step is passing a Board Resolution in the company's meeting, approving the decision to change the name.
2. Availability of the New Name
   Check the availability of the new name by submitting a request to the MCA through the RUN (Reserve Unique Name) service.
3. Application for Name Change
   File a special resolution with the Registrar of Companies (ROC). This is done through Form MGT-14, which must be signed by the directors and shareholders.
4. Amend the Memorandum and Articles of Association (MoA and AoA)
   The company's MoA and AoA must be amended to reflect the new name. A resolution to this effect must be passed by shareholders.
5. Filing with the ROC
   After obtaining approval for the name change, the new name is officially registered with the MCA. The company must file a form INC-24 along with the updated MoA and AoA.
6. Issuance of Certificate of Incorporation
   Upon successful filing and approval, the ROC will issue a new Certificate of Incorporation with the updated name.

Documents Required for Name Change

1. Board Resolution
   A copy of the resolution passed by the board approving the name change.
2. Shareholder Resolution
   A copy of the resolution passed by the shareholders in the Annual General Meeting (AGM) or an Extraordinary General Meeting (EGM).
3. Form INC-24
   The form submitted for approval of the name change to the ROC.
4. Amended MoA and AoA
   Documents reflecting the updated name of the company.
5. Proof of New Name
   A copy of the name approval from the ROC.