The name of the company or LLP can be changed after the incorporation by the promoters. Some key reasons for changing company name are change in business model, change of promoters, rebranding etc. Change of company name requires approval from the Ministry of Corporate Affairs as well as shareholders’ approval. The change of name of a company or LLP, however, has no effect on the legal entity or its existence. Therefore, all property and liabilities of the unit will continue, whereas only the name of the company will be changed.
To change the name of the company, to pass the proposal of the Board, get name approval from MCA, pass a special proposal and apply for the approval of the new company name in MCA. If MCA accepts the application, a new certificate of incorporation is issued. After obtaining a new certificate of incorporation, changes must be made to include and change the company’s MOA and AOA.
eMindsCA.com is the leading business service platform in India, offering company names change, trademark registration, GST registration, LLP registration and many services. eMindsCA.com can help you file for change in company or LLP name in India. The average time taken to complete the name change of the company is approximately 90 working days, subject to submission of government processing time and customer documents. Get free consultation on company or LLP name change by scheduling appointment with eMindsCA.com Advisor.
Reasons for Company Change
Separate Legal Entity
Private Limited Company is a legal entity and a judicial person established under the Companies Act. Therefore, a company has a range of legal capabilities and the company members (shareholders/directors) have no personal liability for the company’s creditors for the company’s loans.
Private Limited is a ‘permanent succession’ of the company, which means uninterrupted existence until it is legally dissolved. The company being a separate legal person remains unaffected by the death or other departure of any member and continues to exist in spite of changes in ownership.
Private limited companies can raise equity funds in India Companies can accept deposits with equity shares, preference shares, debentures and RBI approval. Banks and financial institutions prefer to provide money to a company rather than partnership firms or proprietary concerns.
The ownership of a business can easily be transferred into a company by transferring shares. The share is enough to transfer the transfer form and signature, filing and transfer of share certificates to the ownership of the company. In a private limited company, the consent of other shareholders may be necessary for the transfer of share transfer.
Pvt Ltd is an artificial person, can enjoy property and property of himself in his own name. A company owned property can be machinery, building, intangible property, land, residential property, factory etc. No shareholder can make any claim on the company’s property – unless the company is a concern.
How do we help Change Company Names
eMindsCA.com can help you change the company’s name.
Got the question Request a call from eMinds CA Business Advisor.
To understand the background of the company before beginning a Business Expert procedure, review the current and proposed name and association articles of the company. The review will take 1 – 3 business days.
Once you get an understanding of the processes involved in changing the name of the company, then our expert will draft the board proposals for the process.
Once the Board resolution is passed, our specialists will prepare necessary documents along with the Ministry of Corporate Affairs and will file.
Creative Financial Management
Assets Under Management
Frequently Asked Questions
Using this section, get all the clarifications for your questions and doubts about outsourcing, finance, and investments. We love to clarify your doubts and get you back to your business real quick with more confidence.
Outsourcing allows you to focus on your main business, not your support departments. Outsourcing gives your company access to a high level of expertise, where you will be able to spend normally.
Cost effectiveness– The salary of professionals is significantly lower than in North America and Europe. This wage turns into difference cost savings.
24/7 operation – Offshore development facilities located in India are in the perfect time zone to help you operate 24/7.
Large pool of talent– Retraining experienced staff becomes difficult when they are given boring and repetitive work. India offers you a cost effective talent pool that you can tap for reliable service delivery.
Best Practices– High focus on improvement in quality and continuous process, offshore development centers work on high level efficiency, forecast and reliability. High level maturity reduces risk and provides significant benefits while managing service level agreements.
Bookkeeping & Accounting
AR follow-up – Aging analysis and reports
Bank/credit card reconciliations
P&L, Balance sheet and other regular reports
Preparation of Tax returns
Insurance Accounting Services