How to change your company name? Here’s a quick guide to switching to a new name and identity

Ease of doing business for MSMEs: Following the change of the company name, the enterprise should renew various documents to reflect the new name such as its bank account, company seal, permanent account number, tax deduction and collection account number, letterheads, employment contracts, and more.

Written by MSME Desk

April 20, 2023 17:29 IST

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A company can apply for name change online from the MCA web portal.

Ease of doing business for MSMEs: Many enterprises including MSMEs go through a change in company name at least once in their early or mid years of formation and growth. The reasons could be multiple viz., change in nature of the business or pivot to a different business model, maybe you realise the name is too generic and doesn’t stand out among the competition, you expand to a new geography or go international, the name is not relevant to the industry you serve, there is a clash in the name with another company having a similar name, and more.

Also read: What’s TAN, DIN, DSC, TIN and why they are critical for tax, business compliances; check details

However, changing the name can risk a change in brand identity or positioning in the market among consumers. Hence, a company must be sure about its future goals and target before looking for a new name. Nonetheless, here’s how one can change the company name online:

Call a board meeting to pass a resolution among the board to change the name of the company
If approved, a director or company secretary has to be authorised to check for a suitable name and apply for it under the RUN (Reserve Unique Name) facility of the Ministry of corporate affairs, similar to the process for getting the initial name of the company.
- Enter details such as Corporate Identification Number, proposed name (after verifying it with ‘Check Company Name’ under ‘Company Services’ under the ‘MCA Services’ tab
After MCA approval, call an ‘extraordinary general meeting’ (EGM) to pass a special resolution for changing the name and for incorporating the new name in the Memorandum of Association (MoA) and Articles of Association (AoA)
File the special resolution within 30 days of passing it along with form MGT-14 having details about the resolution with the registrar of companies (RoC).
File the INC-24 form with the Service Request Number of MGT-14 with the RoC. INC-24 is to take the government’s approval for the name change
- Documents required with INC-24 are copy of minutes of the EGM, copy of resolution passed, MoA, AoA with the new name, etc.
Once RoC approves INC-24 with documents, it will issue a new certificate of incorporation in around 15-20 days.

Also read: Step-by-step guide: How to register your MSME on Udyam portal for free

Following the change of the company name, the enterprise should renew various documents to reflect the new name such as its bank account, company seal, permanent account number, tax deduction and collection account number, letterheads, employment contracts, and more.