Company Name Change: Online Process, Fees, Documents & Certificate

Corporations need to change their names on account of many reasons, some of which could include change of focus of business, passing of resolution in connection to merger, occurrence of rebranding, etc. Since the name forms part of the legal identity of the corporation, it is crucial to comply with all statutory formalities.

The company name change procedure usually comprises choosing a suitable name, receiving Ministry of Corporate Affairs approval, passing relevant resolution, amending the Memorandum of Association of the company, and filing necessary forms with the Registrar of Companies. In addition to obtaining approval for the name change of the company, it is also essential to update all necessary records and registrations.

A Company Name Change refers to the legal procedure by which an existing company’s registered name can be replaced with a new one.

This includes obtaining the necessary corporate approvals as well as securing approval from the Ministry of Corporate Affairs (MCA). A name change does not result in the establishment of a new corporation nor will it entail the transferral of your company’s current legal identity to another entity.

Following approval, the company shall continue to have the same CIN number and corporate history, as per law. The new name should be used in the invoices, agreements, website, letterhead, bank records, licenses, and other documents thereafter.

You may wish to change the company's name when the current name no longer reflects your operations, identity, and plans. A good name can also give you a better identity when you enter a new market or change your organization structure.

Some of the most frequently used reasons include:

• Rebranding an existing business

• Change in business activities

• Entering into new products or services

• Improvement/ modification of the existing name

• Change in business strategy

• Merger/ restructuring

• Stronger brand identity

When changing the name of a Private Limited Company, you need to follow the relevant MCA process instead of just treating it as a rebranding exercise.

Having chosen a proper one will allow you to better represent your business before customers, investors as well as business partners.

It will help you get closer between your registered corporate name and your current business activities.

Better Brand Alignment

You should also consider selecting one that more accurately represents your products, services and current business objectives.

Improved Business Identity

This new name will support your rebranding strategy while helping you build a stronger corporate presence.

Scope for Business Expansion

When you want to expand beyond that particular focus area. For example, if your current name is heavily associated with a certain kind of product or activity, going with a more expansive one gives you a lot more options down the road.

Consistency Across Records

You will also need to consider changing any other relevant corporate, banking, tax or commercial records when the change of name has been officially completed.

Prior to commencing this process please make sure the proposed name for your company’s or a Limited Liability Partnership (LLP) registration comply with the applicable provisions contained within the Companies Act and the MCA naming rules.

This means your proposed company name should not be identical or very similar to an existing company or LLP name, nor does it infringe applicable trademark right.

Make sure you keep all your company’s existing MCA filings and statutory record up to date. Depending upon the situation, you might have to get member approvals for alterations to your company’s constitutional documents.

According to Companies Act, 2013, the licensing authority is Ministry of Corporate Affairs (MCA). The Registrar of Companies is responsible for managing the filings of statutory records of the company.

The name reservation and company name change processes prescribed by the MCA are thereby done through an electronic filing process. The forms and procedures involved depend on the status of the company and grounds for the name change.

The documentation required for company name change include:

• Certificate of Incorporation

• Existing Memorandum of Association

• Existing Articles of Association

• Board resolution

• Notice of general meeting

• Explanatory statement

• Special resolution

• Minutes of the general meeting

• Proposed new name

• Name approval details

• Digital Signature Certificates

• Updated company details

• Other documents required for MCA forms.

It is the company’s obligation to ensure the proposed name and details match with the application as well as the supporting documents. In case of similarities with existing name or trademark, the MCA may deny the application or suggest a different name for the company.

There are 7 steps in change company name online. Given below are the steps in detail:

Step 1: Select a New Name

Once our consultants assess your company’s commercial undertakings and analyze its naming regulations, we come up with a precise designation to call your enterprise by.

Step 2: Check Name Availability

Before we make the formal move, our professionals cross-reference the designated appellation against companies that have been incorporated, limited liability partnerships, and other official registries.

Step 3: Apply for Name Reservation

The next step is sending your chosen title along with the established Ministry Of Corporate Affairs (MCA) process which allows its granting of permission.

Step 4: Conduct a Board Meeting

At this point, you will need all your directors to be present as they must authorize the name while also permitting other steps necessary for effecting such a change in name.

Step 5: Obtain Shareholder Approval

Your business owners are next called upon to meet up in a general meeting where each gets an opportunity to vote for acceptance of their firm’s new title through the formality of resolution approval.

Step 6: File MCA Forms

All the required documents required for company name change and supporting evidence are to be filed with the Registrar of Companies before the statutory time limits.

Step 7: Receive Approval

Once your employee completes their evaluation process, then MOCA will update the official register with your business’s new name as well as issue you the legal certificates.

Lastly you need to change some other related information including banking details, goods & service tax filings, bills, legal agreement, permit, internet pages, stationaries & more documents.

The length of time required to change the name of your company depends on the readiness of the documents, MCA processing ime, as well as shareholder approvals amongst other requirements.

There are several factors on which company name change cost depends on government charges like MCA filing charges, also professional assistance charges and other certification charges.

Note: Apart from professional fees you may also need to pay government charges, which vary depending on the company’s particulars and applicable filings.

When you are given the company name change certificate, you will obtain a name change certificate issued by the authorities that states that your company has acquired a new legal name. The corporation will keep doing business with its current corporation and will not be thought of as a newly established organization.

You must make sure to keep this document together with the resolutions passed by the company, amended articles and amendments made to the company by MCA.

After being granted approval, your company name will not have any expiration. You can keep using it in your business until the moment when you decide to apply for the name change again.

Moreover, the company must keep on fulfilling its obligations under the law. You must also continue to use the new name in relations with government authorities and for business purposes.

After changing the business name, the next step is to apply the new name everywhere in all relevant places, this will avoid discrepancy between MCA records and other registrations related to the business.

You may need to change:

• GST registration

• Income tax records

• Bank account details

• Invoices and purchase orders

• Contracts and agreements

• Business licences

• Website and emails

• Letterheads and stamps

• Customer and supplier records

• Other government registrations

The changes may vary depending on the nature of the business and other registrations.

There is an option of private limited company name change again if it is for a valid business reason and the new name fulfills all requirements.

However, it is not advisable to keep changing the business name for the sake of it without studying what impact it may have to the clients, contracts, banking records, tax registrations and so on. Each change is supposed to be undertaken in accordance with the corresponding corporate procedure.

Once we have got the approval of the new name for the company there will be no renewal process except as and when we may want to change our new name later on or there could be a restructuring of the company by way of statute.

Also, we need to continue with filing compliance related to annual & event based filings at MCA with our new legal name.

Renewal Process

There’s no specific “periodic renewal” application process required to keep your company’s name on record.

The key thing to remember is that your new name needs to be represented throughout all of your annual filings and statutory records going forward. If there are other forms of business registration which may require their own form of renewal, make sure you fulfill those requirements with your updated company information as necessary.

Renewal Fees

There is no company name change fees for renewal for maintaining an approved company name. You just have to pay the government and professional charges for annual company compliance amendments or other filings.

As such, there are instances where the approval of a specific company name can’t be surrendered by the applicant, even if you intend to continue the company using another name. However, one could consider going through the name change procedures that might have been prescribed before concluding with such a decision. But if one intends to shut down their business, then they could look into Company Strike Off or closing down their company as per the provisions available to them.

Applications for company names can be rejected due to the following reasons, among others:

• Name already registered.

• Similarity to existing company names.

• Trademark issues.

• Name incompatible with business needs.

• Application filled in incorrectly.

• Failure to submit supporting documents.

• Approvals not complete.

• Filing done incorrectly.

• Clarifications not provided.

• Name does not meet naming rules.

You need to do in depth name and trademark searches that need to be performed prior to the submission of the application to minimize the chances for rejection.

We provide name change services in such regions as Delhi, Maharashtra, Karnataka, Gujarat, Tamil Nadu, Telangana, Uttar Pradesh, Haryana, Rajasthan, Punjab and West Bengal.

Despite the fact that the process of name change follows the principles of the central corporate law, the presence of a registered office and business registrations can require additional documents to be prepared or registered.

Our company provides companies of various sectors with assistance for name change. Our companies are involved in:

• Manufacturing

• Information technology

• Healthcare

• Education

• E-commerce

• Trading

• Logistics

• Real estate

• Infrastructure

• Consulting

• Professional services

Various permits and licenses in the industry might need to be modified separately after the legal name of the company is officially changed.

Our experts assist you with company name change from beginning like search of a new company and till post approval updates. Companyregister.co.in provides services from the beginning till the end, including name suggestions and checking name availability, preparing documents, sending approvals to the Ministry of Corporate Affairs (MCA) and further steps after the approval.

We will help you with the entire process till the end. We can also assist you with ROC records and fulfill any corporate requirements so that your company’s name appears in all official records.