Company Name Change in Chennai

Changing a company’s name is an important decision that can impact its legal identity, branding, reputation, customer base, and business operations. The reason for changing the name of the company can be restructuring or resolving trademark conflicts, etc. The process is governed by the Companies Act, 2013, and requires approval from the MCA (Ministry of Corporate Affairs), the Board of Directors, and Shareholders. The process includes reserving name name reservation, shareholder approval, and final confirmation by the Registrar of Companies (RoC), businesses can smoothly transition to a new name while maintaining their legal identity. Let’s explore the complete process of changing a company name in Chennai and the legal formalities involved.

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What is a Company Name Change?

A company name change is a legal procedure that allows a business to modify its registered name while maintaining its existing identity, assets, and liabilities. The process is governed by the Companies Act, 2013, and must be approved by the Board of Directors, Shareholders, and the Ministry of Corporate Affairs (MCA).

Businesses may opt to change their name for various reasons, such as:

Rebranding to reflect a new vision or market strategy.
Change in business ownership or structure.
Legal disputes or trademark conflicts with an existing company.
The company is expanding operations into different sectors or geographical areas.

Once the MCA approves the name, the new name becomes the official identity of the company for all legal and business purposes.

Law Governing Company Name Change

The following laws and rules regulate the process of changing a company’s name:

Companies Act, 2013 (Sections 13, 4, and 16): It governs the procedure for name changes and compliance requirements.
Companies (Incorporation) Rules, 2014: It specifies the format and submission requirements for name change applications.
Trademark Act, 1999: It ensures the new name does not infringe on an existing trademark.
MCA Naming Guidelines: It provides rules on name uniqueness and restrictions.

Documents Required for Company Name Change in Chennai

To change the name of your company, the following documents need to be submitted to the Registrar of Companies (RoC):

Certificate of Incorporation: Proof of the company’s existing legal identity.
Proof of Registered Address of the Business: Rent Agreement, Lease Agreement, Utility Bills.
Board Resolution Copy: Authorizing the name change application.
Special Resolution by Shareholders: This must be approved in an Extraordinary General Meeting (EGM) and supported by at least 75% of the total votes from the shareholders.
MCA Name Approval Letter: Confirmation that the new name is available.
Updated Memorandum of Association (MoA) & Articles of Association (AoA) – Reflecting the new name.
Payment Receipts for Government Fees: Proof of RoC and MCA payments.
Audited Financial Statements: Latest financials to verify business operations.
Form INC-24
Copy of the Notice and Explanatory Statement of the General meeting where the special resolution was passed.
DSC of Authorized Director

Step-by-Step Process for Changing a Company Name in Chennai

The company name change process involves three main stages, which are as follows:

Step 1: Pass a Board Resolution

The Board must pass a resolution that propose the new name of the company and authorize the company secretary or director of the company to seek the new name availability of the company at the MCA.

Step 2: Name Approval through RUN Application

The company must apply for name approval through the Reserve Unique Name (RUN) service on the MCA portal. The proposed name must comply with Section 4 of the Companies Act, 2013 and MCA’s naming guidelines. The MCA will verify availability and approve the name.

Step 3: Passing a Special Resolution & Filing MGT-14

Once MCA approves the proposed name, the company must convene an Extraordinary General Meeting (EGM) to pass a Special Resolution (SR) approving the name change. Following the EGM:

The company must file Form MGT-14 within 30 days of passing the resolution.
Form MGT-14 is linked to Form INC-33 (SPICe+ MOA) and INC-34 (SPICe+ AOA).

Step 4: Filing INC-24 for RoC Approval

Once RoC approves INC-33 and INC 34 form, the company shall submit Form INC-24 to the Registrar of Companies (RoC), along with required resolutions and fees. The RoC will review the application, and upon approval, issue a New Certificate of Incorporation with the updated name.

Step 4: Update Business Records & Legal Documents

Once the new incorporation certificate is received, the company must update its Memorandum of Association and Articles of Association, GST registration, PAN, TAN, bank accounts, contracts, trademarks, and all regulatory licenses to reflect the new name.

Key Considerations & Compliance

The new company name does not affect existing contracts, obligations, or liabilities.
Any pending legal matters or tax liabilities remain the responsibility of the company under its new name.
The company must notify relevant stakeholders, including banks, vendors, clients, and government authorities, about the name change.
Name change does not automatically update trademarks; businesses should separately apply for trademark modification under the Trademark Act, 1999 if needed.

Why Choose Chennai Filings for Company Name Change?

At Chennai Filings, we ensure a hassle-free company name change process with expert legal assistance. We provide:

Extensive Documentation Support: Our team prepares and files all necessary forms and documents with the RoC.
MCA Compliance & Legal Guidance: Our team ensures seamless approvals with RoC and MCA.
Fast Process: Our team of professionals is experienced in handling the company name change process to avoid unnecessary delays.
Affordable Fees: No hidden charges, fixed price, and only professional support.
Post-Name Change Assistance: Our team understands changing the name of your company is not the end and therefore we are here to help you with post name change compliances such as amending the MoA AoA, bank accounts, tax registrations, and statutory records.

Do you need to change your company’s name? Chennai Filings provides expert legal support to handle the process smoothly. Contact us today!

FAQ's

1. Does changing a company’s name affect its legal status?

No, the legal entity remains the same, and all existing obligations, contracts, and liabilities continue under the new name.

2. How long does the company name change process take?

The process usually takes 20-60 working days, depending on MCA and RoC approvals.

3. Can a company change its name anytime?

Yes, a company can change its name at any time after incorporation with proper approvals from the Board, Shareholders, and MCA.

4. What happens if the proposed name is already taken?

If the desired name is unavailable, the company must submit a new name that adheres to MCA naming rules.

5. Do businesses need to update tax and bank records after a name change?

Yes, once the new incorporation certificate is issued, GST, PAN, TAN, bank accounts, and other licenses must be updated accordingly.

6. Is a physical office visit required for the name change process?

No, the entire process is online through MCA’s digital filing system.