CHANGE PRIVATE LIMITED COMPANY NAME

CHANGING THE BUSINESS NAME OF A PRIVATE LIMITED COMPANY IN INDIA: FEES, DOCUMENTATION, AND COMPLIANCE

 

Changing the name of your private limited company is a significant decision that can impact your brand identity and market presence. Understanding the associated government fees, required documentation, and compliance procedures is crucial for a seamless transition. This guide provides a comprehensive overview tailored to a company with an authorized capital of ₹20 lakhs and a paid-up capital of ₹10 lakhs.

 

Government Fees for Name Change

The government fees for changing the name of a private limited company in India are primarily based on the company's authorized share capital. As per the Companies (Registration Offices and Fees) Rules, 2014, the fee structure is as follows:

  • Authorized Capital up to ₹25,00,000: ₹1,000

Given that your company's authorized capital is ₹20 lakhs, the applicable fee for the name change would be ₹1,000.

 

Documentation Required

To initiate the name change process, the following documents are typically required:

  1. Board Resolution: A certified copy of the board resolution approving the proposed new name and authorizing the application for name change.
  2. Special Resolution: A certified copy of the special resolution passed by the shareholders in a general meeting, approving the change of name.
  3. Notice of Extraordinary General Meeting (EGM): Notice sent to all shareholders regarding the EGM where the special resolution for name change was passed.
  4. Altered Memorandum of Association (MOA) and Articles of Association (AOA): Copies of the MOA and AOA reflecting the new company name.
  5. Name Approval Letter from Registrar of Companies (ROC): Confirmation of the availability and approval of the proposed new name from the ROC.
  6. Form MGT-14: Filing of the special resolution with the ROC within 30 days of passing the resolution.
  7. Form INC-24: Application for approval of the Central Government for the change of name.
  8. DSC: Digital signature of all directors.

 

Compliance Procedures

The process for changing the company name involves several steps:

  1. Board Meeting: Convene a board meeting to propose the new name and schedule an EGM.
  2. Name Availability Check: Apply to the ROC to check the availability of the desired new name and obtain approval.
  3. Extraordinary General Meeting: Hold the EGM to pass the special resolution for the name change.
  4. Filing with ROC: Submit Form MGT-14 along with the required documents within 30 days of passing the special resolution.
  5. Application for Name Change: File Form INC-24 with the ROC, including the necessary documents and prescribed fees.
  6. Issuance of New Certificate of Incorporation: Upon satisfaction, the ROC will issue a new certificate of incorporation reflecting the new name.

 

Frequently Asked Questions (FAQs)

Q1: How long does the name change process take?

A1: The entire process typically takes 2-3 weeks, depending on the promptness of document submission and approvals from the ROC.

Q2: Are there any restrictions on the new company name?

A2: Yes, the proposed name should not be identical or similar to an existing company name and must comply with the naming guidelines prescribed by the Ministry of Corporate Affairs.

Q3: Will the change of name affect existing contracts and licenses?

A3: No, the change of name does not affect the company's legal entity status. Existing contracts, licenses, and agreements remain valid. However, it's advisable to inform all stakeholders about the name change.

Q4: Is there a need to update the PAN and TAN after the name change?

A4: Yes, after obtaining the new certificate of incorporation, the company should update its PAN and TAN records to reflect the new name.

Q5: Do we need to inform banks and financial institutions about the name change?

A5: Absolutely. It's essential to notify all banks, financial institutions, and other relevant parties to update their records with the new company name.

 

Act, Rules, Sections, Notifications, and Circulars

The primary legal provisions governing the change of name for a private limited company in India include:

  • Companies Act, 2013: Sections 13 and 14 pertain to the alteration of the Memorandum and Articles of Association, respectively.
  • Companies (Incorporation) Rules, 2014: Rule 29 outlines the procedure for changing the name of an existing company.
  • Companies (Registration Offices and Fees) Rules, 2014: Specifies the fee structure for various filings, including name change applications.
  • MCA Notifications and Circulars: Periodic updates and clarifications issued by the Ministry of Corporate Affairs.

Staying updated with the latest amendments and notifications is crucial, as regulatory provisions may change over time.

 

Partner with Chhabria Associates for a Seamless Transition

Navigating the legal and procedural complexities of changing your company's name can be challenging. Chhabria Associates offers expert guidance to ensure a smooth and compliant transition. Our services include:

  • Comprehensive Consultation: Understanding your specific requirements and providing tailored advice.
  • Documentation Assistance: Preparing and reviewing all necessary documents to ensure accuracy and compliance.
  • Regulatory Filings: Managing timely submissions to the ROC and other authorities.
  • Post-Approval Support: Assisting with updates to PAN, TAN, bank accounts, and other essential records.

 

Contact Us Today to Initiate Your Company’s Name Change:

  • Call: 9289521162
  • WhatsApp: 9289521162
  • Email: chhabriaca@gmail.com
  • Address: K-149, Main Road, Karawal Nagar, Delhi-110090