Change Company Name

Change Company Name

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OVERVIEW

The name of any business constitution being an enterprise, firm, Company/ Organisation, as discussed in our various materials, is very vibrant aspect for any type of Business. In this article we will focus on how it is important for a Company (Private Limited Company) to change their existing name due to some anatomical change the incorporation and registration of company. The name of the company in general helps third parties to alliance their needs with the activities of the company. With the expansion or change of field of operations of the company, the name of the company may also be required to be changed. The change of company name, in addition to this, may be required for various reasons including the establishment of Brand Name.

The company comes into existence by following the provisions of law and hence any changes in the constitutional documents of the company shall first be approved by the concerned Registrar of Companies, where it is registered. Changing a company name requires the change in the “Name Clause” of the Memorandum of Association (MoA) of the company along with change in Articles of association of the company.

HOW TO CHANGE COMPANY NAME

Changing company names amounts to a significant alteration since Memorandum of Association and Articles of Association need to be altered. As per Section 13 of the Companies Act 2013, a company may change its name by passing a special resolution in general meeting and receiving approval from the Central Government.

 

WHY CHANGE COMPANY NAME

Voluntary Change

The directors or the shareholders may voluntarily decide to change the business name mutually for any justified reason. Names can be used to reflect the vision or any characteristic of the company. To make the name relatable and easy for the consumer can also be a reason to change business name.

The memorandum of Association (MOA) of any Company as per Companies Act’ 2013 has five clauses:

  1. Name Clause
  2. Registered Office clause
  3. Object Clause
  4. Liability Clause
  5. Capital Clause

Any of these clauses can be altered by the Company as and when it wants to do so. These clauses can be altered by passing a special resolution of the shareholders of the Company except in case of the capital clause which can be altered by passing an ordinary resolution by the shareholders of the Company.

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