All about Company Name Change
A Limited Company is identified by a name and the selection of name is as per the discretion of a company. In other words, a company can alter its name whenever it wants to. However, the name change should be as per the regulations and procedures of company laws.
Reasons for Changing company’s name
- Change of business activity of the company.
- Change to reflect brand of the company.
- Change as per government order.
Conditions to fulfill for Changing Company’s Name:
- A time period of at least 1 year should have elapsed from the last name change.
- At least 50% of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name, or, the amount invested in the new activity/project is at least 50% of the assets of the company.
- The new name along with the old name shall be disclosed through the web sites of the respective stock exchange/s where the company is listed for a continuous period of one year, from the date of the last name change.
Effects of changing company’s name
- The change of name, by no means, shall affect any rights/obligations of the company and any legal proceedings continued against/by the company in its former/new name.
- The legal proceedings commenced by the company in its old name can be continued under the new name.
- The entity of the company continues despite such change.
- The company is not dissolved nor does any new company come into existence.
- By such change, the constitution of the company is not changed, only the name changes.
Documents required for changing a company’s name
- Certified copy of Board Resolution
- Current Certificate of Incorporation
- MOA and AOA in word format
- List of Directors and Shareholders
- Proposed Name(s) in order of preference.
- Digital Signature of the authorised director
- Letterheads (approx 10) and rubber stamp of director
