The name of a private limited company is its distinct identity and is the first aspect specified in its MOA (Memorandum of Association). If the management of the company wishes to change its name, it can be done with the approval of both the shareholders and the Registrar of Companies (ROC).
The process of changing the name of a company involves four steps and requires obtaining prior approval. These are the requirements that must be fulfilled in order to change the name of a company.
A company may choose to change its name voluntarily, provided that all other necessary conditions are met. This is a legal and common practice.
A company may choose to change its name to reflect new or additional business objectives, and as part of this process, it may also alter its Memorandum of Association (MOA) to reflect the changes in its main objectives.
The Registrar of Companies (ROC) has the authority to order a change in a company's name in response to a complaint filed by another company claiming the right to use the name or trademark.
Sometimes companies change their name for marketing and branding purposes to align it with current trends and improve their brand positioning.
The company name frequently changes to represent the authority of the new management and for branding reasons when a firm's ownership or ownership by an entity changes.
Companies may change their name to strengthen their trademarks or copyrights or to prevent a potential intellectual property conflict.
Sr. No. | Reason for Filing of Form | e-Form | Due Date | Remarks | Penalty |
1 | Application for Reservation of Name | Form INC-1 | - | - | - |
2 | Application for approval of CG for change of name | Form INC-24 | For a name change within 60 days after submitting the application. | A company that has failed to file its annual returns, financial statements, or any other required documents with the Registrar, or has defaulted on matured deposits, debentures, or interest payments, is not eligible for a name change. Upon successful completion of the name change, a new certificate of incorporation in Form INC.25 will be issued to the company. | "A company that fails to comply with the directives from the central government will face punishment and penalties, with a daily fine of up to Rs.1000 for each day of default. Additionally, officers in default may face fines ranging from Rs.5000 to Rs.1,00,000." |
