CHANGE OF NAME OF FIRM

This query is : Resolved

CA Atihash Agarwal (Querist)
Follow

30 September 2021 Hello,

My query is that if I have a firm registered in 2016 and now If I want to change the name of the firm on the SSP Portal, what would be the impact on its MEF Empanelment and whether My old standing will still be considered or not.

Thanks in advance.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

06 July 2024 If you have a firm registered in 2016 and you want to change its name on the SSP Portal, here are the implications and considerations regarding MEF (Multipurpose Empanelment Form) Empanelment and your standing:

1. **Impact on MEF Empanelment:**
- **Name Change:** Changing the name of your firm on the SSP Portal will not directly impact your MEF Empanelment. The MEF Empanelment process primarily assesses the firm's compliance, qualifications, and other criteria set by the empanelment authority (like ICAI or another regulatory body).
- **Documentation Update:** After changing the firm's name, ensure that you update this change in all relevant documents and registrations, including your MEF Empanelment application if required by the empanelment authority.

2. **Continuation of Old Standing:**
- **Experience Consideration:** Typically, MEF Empanelment considers the cumulative experience and standing of the firm over the years. Changing the firm's name should not affect the consideration of your firm's previous experience and standing if the new name is correctly linked to the old firm's history and records.
- **Documentation Proof:** You may need to provide documentation to link the previous firm name and its history with the newly renamed firm. This helps in demonstrating continuity and experience to the empanelment authority.

3. **Process for Name Change:**
- **SSP Portal:** Log in to the SSP Portal and initiate the process to change the name of your firm. Follow the steps provided on the portal to submit the application for name change.
- **Documentation:** Prepare necessary documents supporting the name change, such as resolutions of partners/directors, updated LLP Agreement or Partnership Deed, and other required forms.
- **MCA and Other Updates:** Ensure that after changing the name on the SSP Portal, you also update the name change in MCA records and any other relevant registrations.

4. **Professional Advice:**
- It's advisable to consult with a professional, such as a company secretary or a chartered accountant, to guide you through the process and ensure compliance with all regulatory requirements. They can also help you prepare the necessary documentation and update your empanelment records accordingly.

By following these steps and ensuring proper documentation, you can successfully change the name of your firm on the SSP Portal without adversely affecting your MEF Empanelment status, provided you maintain continuity in demonstrating your firm's experience and credentials.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now