Changing the name of a corporation cannot continue without complying with the wants of selecting a corporation name set by the Registrar of Companies.
Changing a corporation Name
Getting a corporation ’s name changed by the Registrar of Companies (RoC) is not any small matter! Executing a company name search will assist you select an appropriate name. an equivalent rules and laws apply to vary a person’s name, as well. The procedure to vary the corporate name is well-defined and is to be followed strictly. Hence, it's essential to follow all the wants of the registrar of companies in India.
Benefits To Changing name
1. once you Can’t Get A Copyright: Acquiring copyright and trademark is important to the success of a business because it forms a part of its branding and marketing strategy. However, if the present name of the corporate cannot get copyright it'll affect revenue streams and future earning potential. for brand spanking new names, check name availability, before you opt to vary the corporate name.
2. Memorable Business Name: From a marketing and a business standpoint, memorability is everything when it involves the name of the corporate . So when registering the name of the corporate with the registrar of companies, confirm you select a reputation that's easy to recollect , and also the one that's available as per a corporation name check.
3. Repositioning: To change name or a brand’s name, especially when your business is prepared to maneuver into a replacement market helps with the concept of repositioning. this is often done to specialise in one particular product or niche that's doing better than others, or when entering a replacement market.
4. Specific product or service: This occurs when a business gains popularity for one particular product or service. For that reason, a business or a brand are often renamed to maximize their popularity and generate more demand, or sales.
5. Location Friendly Name: When it involves choosing the way to change name , one effortless thanks to move forward is to think about the situation . If your business is moving to a location then it might be prudent to rename your business to something that's more friendly and acceptable with the situation of the business.
6. Change Of Ownership: When a business passes ownership, it's only natural for the new owner to see name availability, and alter name . For this purpose, the owner will approach the registrar of companies India to vary his/her name .
Checklist For Updating name , After name Change
1. Updating your social media accounts
2. Update Email footers
3. Name change on stationery – letterheads, business cards, etc.
4. Website changes
5. Informing customers and suppliers
6. Voicemails, messages on answering machines
7. Company registers and Articles of Association
8. Update your computer systems
9. Employment Contracts
10. Update business licenses or permits
11. Supplier Contracts
How To Execute a corporation Name Search
One of the foremost important steps before registering a corporation name with the registrar of companies is to make sure to see name availability.
It is advised to shortlist four to 5 business names before checking availability, within the event a number of those names are already taken or in use. When registering your company with the registrar of companies, the Ministry of Corporate Affairs will authorize the name to be used supported existing rules and regulations.
In the event, a brand has already been trademarked, you'll need a NOC certificate from the owner of the name .
Documents Required For name Change When a corporation decides to vary its name, a resolution is passed among the board of directors/members of the corporate . After which, the subsequent two documents are filed with the registrar of companies;
This e-form is filed with the registrar of companies on the Ministry of Corporate Affairs portal, thirty days after filing the resolution to vary the corporate name. along side the MGT-14 form, the subsequent forms need to be attached also .
1. Notice of Extraordinary general meeting (EGM).
2. Copy of special resolution passed within the EGM.
3. Copy of altered Memorandum of Association and Article of Association, with the new name .
After the MGT-14 is approved, the INC-24 e-form is filed within a period of 30 days with the registrar of companies on the Ministry of Corporate Affairs portal. along side the INC-24 form, the subsequent forms need to be attached also .
1. Extract of the Minutes of the Extraordinary general meeting of the corporate
2. Notice of EGM
3. Copy of resolution agreement
4. Copy of altered MOA and AOA, with the new name .