Company Name Change
Get complete assistance for Company Name Change Online in India
My Biz Development make it easy, quick and smooth to run your business by providing essential legal and administration services. If you own a company and need help with changing private limited company name, you can rely on our experts to guide and assist you.
In a dynamic business world, a company’s name acts as its identity that differentiates it from its competitors in the market. However, there are times when it becomes necessary to change the company’s name. This is a strategic move and requires fulfilment of legal obligations under company’s act.
Legal Process for Company Name Change in India
There are several steps involved in the procedure for changing the name of a private limited company in India. Here are some of the crucial steps in the legal process for company name change
1. Board Resolution:
The first step is to convene a board meeting to propose the name change. The board members must approve the decision to change the company name. The board will also authorise a Director or the Company Secretary (CS) to verify the availability of the new name with the Ministry of Corporate Affairs (MCA).
2. Shareholder Approval
After the board’s approval, the company must convene an extraordinary meeting ) EGM) in which a special resolution needs to be passed by the shareholders. Such meeting should be called with proper notice and meeting’s agenda must include the resolution to change the company’s name.
3. Availability of New Name:
Before filing the application, you must check the availability of the proposed company through the MCA’s online portal.
4. Filing with the MCA
Once the name is approved by shareholders, the company must apply to the MCA for the change. This is done using the Form INC-24 along with the necessary documents and payment of fees.
5. Approval from MCA:
Upon receiving the application, the MCA will process the request and either approve or reject it based on their review. If approved, the company will receive a new Certificate of Incorporation reflecting the name change.
Timeline for Change of Company Name
The timeline for change of company name can vary depending on the complexity of the request and the efficiency of the documentation process. On average, it can take anywhere from 7 to 15 business days for the MCA to process the application once it has been submitted. However, delays can occur if the submitted documents are incomplete or if there are any issues with the proposed name.
Change Private Limited Company Name: Key Considerations
When you wish to change a private limited company name, it’s important to consider several factors:
• Uniqueness: The new name should be unique and must not infringe upon any trademarks.
• Compliance with Naming Guidelines: The new name must comply with the MCA’s naming guidelines, which prevent names that are too similar to existing companies or businesses.
• Tax and Legal Records: Post name change, ensure that all tax registrations, legal documents, and contracts are updated to reflect the new name.
Once the company name has been officially changed, you will need to ensure that all internal and external documents, including contracts, bank accounts, and tax filings, are updated to reflect the new name.
Compliances After Change of Company Name
Once the company name change has been approved and implemented, a company needs to fulfil certain compliances after the change of company name listed as follows:
1. Update PAN and TAN:
You must update your company’s PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) with the new name.
2. Notify the Income Tax Department:
Ensure that the name change is reflected in your income tax filings.
3. Update GST Registration:
If your company is registered under GST, you must notify the GST authorities to update your registration details.
4. Amend Contracts and Agreements:
Update all existing business contracts, agreements, and official documents to reflect the new name.
5. Bank Account Updates:
Inform your bank about the name change to ensure that your company’s bank account reflects the new name.
FAQ’s on Company Name Change Online
Q1: Can I change my company name online?
Ans: Yes, you can change your company name online through the Ministry of Corporate Affairs (MCA) portal.
Q2: How long does it take to change a company name?
Ans: Typically, it takes about 7 to 15 business days for the MCA to process the application, but the total time may vary depending on the completeness of the submitted documents.
Q3: Do I need to update my business licenses after changing the name?
Ans: Yes, after changing your company name, you must update all business licenses, GST registration, and other legal documents.
Q4: Is there any cost involved in changing the company name?
Ans: Yes, there are fees involved in the filing process with the MCA, and the amount depends on the company’s authorized share capital.
Q5: What if the new company name is already taken?
Ans: If the new name is already in use or not approved by the MCA, you will need to choose a different name and apply again.
Changing your company name online in India is a fairly streamlined process when done correctly. By following the legal process for company name change, adhering to the necessary compliances, and planning ahead for the required updates, you can successfully navigate the process without disruption to your business operations. Always ensure that the name change aligns with your company’s long-term goals and complies with legal requirements.
If you are looking to change company name, My Biz Development team can assist in making it smooth and hassle free transition for your business. Whether you are starting over or rebranding your business, you can count upon us for complying with legal formalities for changing your company name. For further assistance, feel free to connect with our expert team.
Our Charges For Company Name Change Starts from Rs 15,900/-
Brand and Logo Trademark Resgistration
Having a trademark, it prevents others from using the products or services without the permission of the trademark owner.
In India, the trademarks are registered by the Ministry of Commerce and Industry, Government of India. Trademarks are registered under the Trademark Act, 1999. It provides the trademark owner to sue for damages when infringements of trademarks occur. Once the trademark is applied by filing the trademark application with the Intellectual Property of India, the applicant can use the TM symbol and ® can be used once the trademark gets registered and the registration will be valid for a period of 10 years.
Trademark Registration Process:
At MYDBIZ, the process for registration of the company brand name and logo begins with a trademark search. We can help you conduct a trademark search using the Government company name search tool to find marks across classes. This tool can also be used to find identical or similar trademarks under the same class. Once the company brand name search is completed, you will have to determine whether to proceed with the trademark application based on the details of identical or similar trademark applications already filed with the Government.
In the majority of the cases where the mark is unique, on filing the trademark application, the Examiner would verify all details and approve the publishing of the mark in the Trademarks Journal. When the mark is published, any person or entity would have the opportunity to oppose the registration of the mark. If the mark is not opposed, then the trademark registration certificate will be issued to the applicant with a validity of 10 years.
In case there are identical brand name, then the process for registration could be lengthy and costly which involves various legal procedures and hearings. If there are similar marks, then the process could include objections and hearings, which is based on the Examiner’s decision. If the Trademark Examiner determines that the mark is identical or similar to an existing trademark application, he/she will issue a notice of objection. The objection notice must be responded to within 30 days. On responding to the notice, a hearing date would be provided for the applicant to present proof of use and submit arguments for registration of the mark. In case the Trademark Examiner objects to your trademark application, we can help you with filing an objection reply or appearing on your behalf at hearings at an additional cost.
Benefits of Trademark Registration:
On registration of the trademark, the R symbol can be used to notify the public that the mark is a registered trademark.
In case of an infringement of a registered trademark, the owner of the mark can get a legal remedy. A court may grant relief for trademark infringement or for passing off. Trademark infringement relief can be provided thru an injunction, damages, or an account of profits, together with or without any order for the deliver-up of the infringing labels and marks for erasure or destruction.
Documents Required for Applying for Trademark Registration:
For Individuals/Proprietorship Entities:
> PAN card of the applicant/proprietor
> Aadhaar card of the applicant/proprietor
> Brand to be Trademarked
> Nature of Business Activity
For Non-Individuals/Companies/LLPs:
> Certificate of Incorporation (For Companies & LLPs)
> PAN card of the Entity
> MSME Certificate or Start-up India Registration Certificate (ANYONE)
> Brand Name to be Trademarked
> Nature of Business Activity
NOTE:
1. Brand Logo registration is NOT mandatory. Even words can be applied for trademark registration.
2. In case of assistance required in obtaining an MSME Certificate, Relax Plan is required to be obtained.
Our Charges For Applying For Trademark Registration:
Smart Plan @ Rs 6,900/- all-inclusive
Applying for trademark registration under one class for Individuals/Proprietors and small enterprises having MSME or Start-up India registration certificate
Pay Now
Relax Plan @ Rs 7,900/- all-inclusive
Applying for MSME and Trademark registration under one class for small enterprises
Pay Now
Gold Plan @ Rs 12,900/- all-inclusive
Applying for trademark registration under one class for non-individuals and other companies not having MSME or Startup India Registration
Pay Now