How to change Business Name of Pvt Ltd

A business may change its name under Section 13 of the Companies Act 2013 by passing a special resolution in general meeting and gaining approval from the Central Government.

Changing the name of a private limited company or a business is significantly more difficult than it appears. A special resolution must be passed in a general board meeting if a private limited company has to alter its name, according to Section 13 of the Companies Act, 2013. For this reason, the general board meeting must be convened, and the minutes of the meeting must be documented for submission to the Ministry of Corporate Affairs (MCA) with the request for a name change.

These procedures are necessary because the names of private limited companies must be properly registered with the MCA. As a result, before gaining MCA clearance, you will need to consult the board of directors and obtain shareholder support. Even though the entire operation appears to be tiresome, a step-by-step approach might aid in the resolution of problems.

NOTE:

With the agreement of the shareholders and the Ministry of Corporate Affairs, an online company pvt ltd’s name can be changed at any time (MCA). A firm that has not filed annual returns or financial statements with the Registrar, or that has failed to pay or redeem matured deposits or debentures, or interest thereon, will not be allowed to alter its name.

This article explains how to change the name of your private limited company step by step.

Changing the name of a private limited business:

The first step is to get the board resolution:

The board must approve a name change for the private limited online company and authorize a director or company secretary to apply for the MCA. Simultaneously, a decision must be made to call another board meeting to discuss a name change (after approval) as well as amendments to the Memorandum and Articles of Association (MoA and AoA).

Step 2

Verify availability:

The application will be filed with the MCA by the director or company secretary (or any other authorized person). The method is similar to that of a company incorporation application, and the new name must follow the naming rules outlined in the Companies Act of 2013.

Step 3

Extraordinary General Meeting:

If the name is accepted, the firm must call an extraordinary general meeting to pass a special resolution authorizing the name change as well as the amendments to the MoA and AoA.

Step 4

Approval of a Name Change for the Company:

You must file the special resolution with the Registrar of Companies once it has been passed. To receive final permission, a form 1B must be filed, along with the required fee for the name change as determined by MCA. This is the most important step, and once you've completed it, the next steps are simple.

Step 5

New Certificate of Incorporation:

If the Registrar approves the application, a new certificate of incorporation will be issued. After they are incorporated in MoA and AoA, this certificate is clear evidence that the company's name has been changed, and all documents and communications will be effective with the new name.

Step 6:

Change the MoA and AoA values:

You can now change the MoA and AoA using the new certificate. This will bring the procedure to a close.

Despite the fact that a new incorporation certificate (with the new name) is issued, all other legal requirements remain the same, and the company cannot avoid any previous responsibilities to them.

THINGS TO THINK ABOUT AFTER CHANGING YOUR COMPANY'S NAME

1. Paint or affix its name in legible lettering on the outside of every office or place where it conducts business.

2. All of the company's letters, billheads, letter documents, notices, and other official documents must hold the new name.

3. Where a company's name or names have changed in the recent two years, it must paint, affix, or print, as the case may be, the former name or names so changed in the last two years alongside its name, as required under subsection (a) and (b) (c). [Section 12(3)(d) first proviso].

4. Notify the bank where the company's current account is held and request that the name of the company be changed in the bank records.

5. Apply for the company's new PAN and TAN.

Taxboxindia.com can help in GST Registration,ISO Certification,FSSAI Registration,Company Registration,GST Return Filing,IEC Registration,RCMC,Income tax return filing,OPC formation,Partnership firm Registration and many more services. We have tried to conclude all the points related to above article,in case you need support for any registration and annual filing services,you can reach to us at info@taxboxindia.com,taxboxindia@gmail.com or post your query on https://www.taxboxindia.com/contact-us.php.