by CS Arpit Garg
We have a received many queries and questions on the Name Change of a Private Limited Company on its processes, Forms, Time Limit and many more. Today, we will discuss all the FAQ’s on Name Change of a Private Limited Company in detail so that it can help the society at large.
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FAQ’s on Name Change of a Private Limited Company
- Which approvals are required for Name Change?
As far as Approvals are concerned Firstly Board Approval is required, then Shareholder’s approval then Approval for Registrar of Companies (ROC)
- How long will it take for the name change after filing the documents with the ROC?
Name Change is subject to approval of concerned ROC, however it normally takes 15-20 days from filing of e-forms.
- What should one do after the name change?
After the name change, the company should inform its stakeholders about the same and make necessary post compliances.
- Whether MoA & AoA is required to be altered?
Yes, every copy of MoA and AoA has to be altered as per the new name of the company.
- Whether PAN Number will change?
No, PAN means the Permanent Account Number, it will be permanent. However, Company have to make necessary application to Income Tax Authority for Change of PAN Name. Certificate of Incorporation is required for the same.
- Whether GST Number will change?
No, GST Number will also not change however, company have to make necessary application for amendment of Legal & Trade Name.
- Whether company have to intimate its customers of the name change?
Yes, as a matter of good practice company should intimate all its customers through marketing and advertisement about the name change, so that loyalty remains with the customers.
- Whether company have to display the old name together with the new name?
Yes, for a period of 1 year from the name change of the company, Old name shall be displayed in all the letter heads, hoardings, banners, together with the new name.
- When will new name will be effective?
New Name shall be effective when ROC issues the New Certificate of Incorporation.
- Where to apply for Name Reservation?
Company should apply in RUN facility for name change of the company.
- Is Central Government (Regional Director – RD) Approval is required?
No, Central Government approval is only required when company makes any addition or deletion of the word “Private”.
- Can company alter its object clause simultaneously?
Yes, if there is any requirement to alter the Object clause of the company for name change then company can do so.
- Can company change its name in its first year of incorporation?
No, Company cannot change its name as compliances for the private limited company should be completed till date for the name change.
- Whether company have to change its bank account?
Yes, old bank account has to be closed and new bank account with the new PAN & GST should be provided for opening of the new bank account.
- What all forms are required to be filed for Name Change?
RUN for Name Change Application, MGT-14 for Filing of Special Resolution and INC-24 for taking approval from ROC.
If you have any further queries contact
CS Arpit Garg
Founder – Compliance Arena
8447773833