Change in the name of the Entity
Naming an entity can feel like naming a child. You only get one shot, so you'd better get it right the first Time. But that's not true. Some kids grow up and change their names, and a growing business can do the same with some strategic thought.
An entity is an artificial person who gets its separate and legal identity through its name. The name of the Entity reflects its independent corporate existence. Sooner or later, the Time comes when a corporate identity is no longer up to scratch. There could be circumstances wherein specific entity information needs to be updated with ROC. One such requirement is a change in the name of the Entity in India. The name of the Entity can be changed by following the procedures laid down in the Companies Act of 2013. In this article, we will learn how to change the name of your business as per the MCA directives.
There are various reasons a Company opts for a name change procedure in India. Some of them have been enlisted in the following points:
The only required eligibility for the company name change procedure is that the applicant must be a registered corporate entity within Indian Corporate Laws. They must also possess the required incorporation documents to be submitted to the MCA to further their candidature for the Corporate Entity Name Change procedure.
Regarding the change in the Name of the Entity following documents are needed:
If a Change of name is due to a Change in the Company's main activity, a certificate from a chartered accountant regarding turnover details from the new activity should be enclosed.
Before learning how to change the name of a Company, let us understand one thing. The name change procedure for a Corporate Entity depends on its nature. The procedure for altering the nomenclature of a Corporate depends on whether it is a registered Company or a Limited Liability Partnership. For your sake, we have shared the name change procedure for both entities.
Procedure for change of name of a Company
Filing form INC-1 after completion of document from the client for change name of the Company.
Procedure for change of name of an LLP
The LLP may change its name by following the procedure in the LLP agreement. Where the LLP agreement does not contain any procedure, the consent of all partners is required to change the name of the LLP.
You can connect with our Experts to know further about the process of changing the name of the Company.
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Registrationwala.com is a leading legal consultancy firm providing comprehensive services relating to Corporate Company Name Change. Our Experts can aid you in how to change company details as per the MCA directives in a short time.
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Q. Is the procedure to change the company name the same for all corporate entities?
A. No, the procedure for name change procedure for an LLP differs from that of a registered Company. Refer to the process section of the web page to know the details.
Q. Is a license required to change a company's business name?
A. No, MCA does not require a specific permit for the company name procedure of a Firm in India.
Q. How long does it take to change a company name in India?
A. In the case of a Company registered under the MCA Act, the name change procedure requires nearly a month.
Q. What are the benefits of changing a company name?
A. Companies usually opt for company change procedures for business growth, mergers, and altering their brand's image in the market.