How To Change Company Name In India? Step-By-Step Procedure And A Checklist To Change Business Name

As companies grow and change over time, so do their values and products. Sometimes this change can be an indication for a company that they should change the company name to a name that reflects the company's values in a much better way. There is nothing wrong with changing a business name and in most cases, it can only help the company gain a better reputation for a name they can be proud of.

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Therefore, it is not surprising that many entrepreneurs want to change their company name in India. If you are also looking to change your business name in India but don't know how to do it, don't worry because we got you covered.

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In this step-by-step guide, we will take a step-by-step procedure to change your company name and then learn more about the checklist you need to follow to change your company name in India. We highly recommend following the guide until the end so you don't miss important details.

Step by step procedure to change the company name

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1. Ensuring the issuance of a joint decision by the Board:

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To change a company name in India, the first and most important step that you should do is to call the board of directors to meet with all the important people in the company. This includes every member of the board of directors, major shareholders, executive directors, and a director of the company. To change a company name in India, you must pass a mutually agreed resolution to change the company name.

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Invoking a joint board resolution such as this is critical to authorizing the director or secretary to apply to the MCA to verify the availability of the proposed new trade name. This same meeting may be used as a means of hosting a general meeting to change the name of the company and amend the articles of association and articles of association attached to the name.

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2. Name Availability Check:

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Once you have a new brand name done, you need to see if it is already available for your business. To do this, you must submit an approved name application created by the company director to the MCA. The MCA then checks to see if the name complies with all of the Companies Act 2013 naming guidelines. If you haven't already, we highly recommend following these naming guidelines to ensure that the new company name you're considering does not violate any of these guidelines.

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If the actual name violates any of the guidelines, the MCA will deny the name request outright. Otherwise, your application will be accepted and you will be able to carry out the appropriate actions at your disposal. Here, you will notice that the procedure for filing your name change application is very similar to the naming process during your company incorporation.

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3. Complete a private resolution:

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Once the MCA approves your new company name, your company must host a General Manager and issue a resolution ad hoc to change your company name and any subsequent changes to the Articles of Association (MOA) and Articles of Association (AOA) that may occur during the process. This particular decision will help you lay the groundwork for your new corporate memo and make all necessary changes without any hassle.

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4- Submitting a request for approval:

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Once you have also approved the special resolution, you must submit both the resolution and the approved application to change the company's name to the Registrar of Companies. The company registrar keeps track of all the companies in their data and it is necessary to inform the registrar while important company data such as your company name changes.

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Simply submit a name change request on Form 1B and pay the required amount of fees and your changes will soon be processed and made permanent.

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5. Issuance of the new certificate of incorporation:

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If the Registrar declares that all is well with the application and authorizes it, it issues a new Certificate of Incorporation for the company under your new name. This is the last step in the process and once you have your degree, your new name becomes official to the world. You can immediately announce your new name to the public if you wish and you will not face any repercussions for doing so.

6. Make changes to MOA and AOA

However, before your new Certificate of Incorporation is issued, you must take several critical steps to incorporate your new business name into all MOA and AOA copies issued by the Registrar. These changes are necessary to facilitate a smooth and complete name change process for your business.

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Checklist for changing a business name in India

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1. Hosting a Board Meeting:

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This board meeting is intended to exchange ideas on changing the company's name, amending the MOA and AOA as well as setting a specific date and time for the General Manager.

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2. Apply for the approval of the Bombay Stock Exchange:

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Apply to BSE for approval of your name change with several important documents as proof of your change. These documents include:

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·??????Resolution of the extraordinary meeting of the Board of Directors,

·??????A true copy of the resolution with written evidence of shareholder approval of the name,

·??????Transcript of the new name confirmation by the MCA,

A certificate from the CA indicating compliance with all regulations and payment of all processing fees plus GST.

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3. GM Hosting -

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Organize a public meeting indicating your company name change and MOA and AOA amendment.

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4. Dispatch the MGT-14 ASAP:

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Submit the form with a copy of your BM decision and statement of reasons, EGM CTC decision, MOA and AOA amended.

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5. Submit INC-24 as soon as possible:

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Customized Notice with Explanatory Statement, Transcript of Board Resolution, MOA and AOA already changed and General Assembly approval.

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6. New COI issued by ROC jointly with INC-25 -

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Your new COI will be issued by your Registrar with your INC-25 Form.

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7. Initial approval from the Bombay Stock Exchange -

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You must get their approval for the new company name from the Bombay Stock Exchange.

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8. Final approval request from BSE:

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·??????COI after the new company name change,

·??????Explanation of the reasons for changing the name,

·??????Three copies of stock certificates with the new name,

·??????A copy of the receipt of payment of all listing fees.

The manager or the company’s secretary pledged to dispose of the old certificates with good delivery in accordance with the due controls,

·??????The company undertakes to put the new logos in the new company name,

·??????Brief details of the company's business field,

·??????date of change of surname or name version,

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A commitment by the director or secretary that at least 50% of the company's total income in the last 12 months has been under the new name of the company along with all assigned details.

This must be followed up with the most recent annual report of the company, and all non-refundable required fees fully paid via NEFT or RTGS to the Bombay Stock Exchange to process the application if payment has not yet been made in principle. The theater. The details should also include the company's annual turnover, revenue from any activities and results for the past three years. Required details also require the company's PAN number. A true copy of the shareholders who approved the new company name.

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9. Final approval assigned to the Bombay Stock Exchange -

Another custom approval definitively declares that your new company name is now public on the stock exchange.

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10. Inform all regulatory authorities, as well as the public, about the name change:

The more the regulatory authorities know about your new company name, the more reputation you will gain for your company.