Company Name Change
Easily change Company Name with Expert Help from CBS Stracon
The name of a company or LLP can be changed by the promoters at anytime after incorporation. Some of the major reasons for change of company name are business model change, change of promoters, rebranding, etc., To change the name of a company, shareholders approval is required along with approval from the Ministry of Corporate Affairs. The change of name of a company or LLP however has no impact on the legal entity or its existence. Hence, all assets and liabilities of the entity would continue, while only the name of the company would have been changed.
Change of company name requires passing of a board resolution, obtaining name approval from MCA, passing of a special resolution and applying for approval of new company name to the MCA. If the MCA accepts the application, a new certificate of incorporation is issued. After obtaining the new certificate of incorporation, changes must be made to incorporate and change the MOA and AOA of the company as well.
Reasons to Company Name Change
Separate Legal Entity
Private Limited Company is a legal entity and a juristic person established under the Companies Act. Hence, a company has a range of legal capacities and the members (Shareholders/Directors) of a company have no personal liability to the creditors of a company for company's debts.
Private Limited Company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved.
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company.
Private Limited Companies can raise equity funds in India. Companies can also issue equity shares, preference shares, debentures and accept deposits with RBI permission. Banks and Financial Institutions prefer to provide funding to a company rather than partnership firms or proprietary concerns.
A Business Expert will review the present and proposed name of company and the Articles of Association to understand the background of the company prior to beginning the process. The review would take 1 - 3 working days.
Once you obtain an understanding of the procedures involved in changing company name, our Experts will draft the necessary Board Resolutions for the procedure.
Once the Board Resolutions are passed, our Experts will prepare and file the necessary documents with the Ministry of Corporate Affairs.