As the time proceeds, so does the company and its growth. Many a times, the company or LLP is obliged to change its name, reasons being a merger or acquisition, rebranding strategy, remodeling of business or to make it consumer friendly. The change in company name only causes change in the MOA & AOA and how the customers are seeing it. There is no impact on the legal grounds, the assets and liabilities of the company stay intact.
To change the name of the company, the shareholders need to be on the same and should get the passing resolution of the board members through the board meeting. The availability of the new name has to be checked with Ministry of Corporate Affair (MCA) beforehand. The Extraordinary General Meeting (EGM) is organized with the purpose of passing special resolution to change the name of the company and in turn make changes in the MOA and AOA of the company.
The application of the name change along with the special resolution is filed with the MCA. Upon the approval from the MCA, new certificate of incorporation is issued. The whole process of name change takes approximately 90 to 100 working days. Jain Divya & Associates extends knowledge and services to help you file application for name change of the company. Schedule a consulting session with Jain Divya & Associates to know more about the name change procedure.
Documents Required for Company Name Change
Certified Copy of Special Resolution
Notice of EGM
Explanatory Statement to EGM
Our Role in the Process of Company Name Change
- We will review the present and proposed name of the company and make sure it aligns with the AOA and MOA of the company. We will help you check the availability of the proposed name.
- After EGM and getting go ahead from all the board members and shareholders regarding the company name change, we will help you draft the Special Resolution necessary for the application.
- We will help you prepare and file the application for company name change with the Ministry of Corporate Affairs making sure all the necessary documents are submitted.
Facts About the Registered Company
- The private limited company and LLP is separate legal entity, hence the members of the company have no liability to company’s debt.
- The PLC and LLP is unaffected by the departure or death of any member, hence enjoy uninterrupted existence till legally dissolved.
- PLC and LLP can raise funds through equity, shares and debentures in India. The banks and financial institutes prefer funding PLC and LLP.
- The ownership of PLC and LLP can be easily transferred by transferring the shares of the company without affecting the operation of the company.
- Being a separate individualistic entity, the PLC and LLP can acquire, own and alienate a property in its own name.