I want to change the name of my company from "Anantadrishti Consultancy Services Private Limited" to "Anantadrishti Business Solutions Private Limited"
My Query for CA Club Experts are
1. Is "Business Solutions" words can be incorporated in the company name with the capital value of Rs. 1,00,000 or we have to increase the Capital Value. 2. What is the procedure for name change and how much fees we have to pay. 3. How can we update the new name in PAN and Service tax department.
19 July 2024
Changing the name of your company involves several steps and considerations. Here's a detailed response to your queries:
1. **Incorporating "Business Solutions" in the Company Name:** - As per the Companies Act, 2013, the name of a company should reflect its main objects. Adding "Business Solutions" suggests a broader scope beyond consultancy services. Since your current name includes "Consultancy Services," changing it to "Business Solutions" would likely require an alteration in the main objects of your company as well. - Increasing the authorized capital of the company is not directly related to changing the name. However, if the change in name signifies a change in business activities or a broader scope, it might necessitate amending the main objects clause in the Memorandum of Association. This can be done by passing a special resolution and filing necessary forms with the Registrar of Companies (ROC).
2. **Procedure for Name Change:** - **Conduct a Board Meeting:** Convene a board meeting to approve the name change and to fix the date, time, and agenda for convening an Extraordinary General Meeting (EGM). - **Hold an EGM:** Pass a special resolution for the name change in the EGM. Special resolution requires approval from at least 75% of the shareholders entitled to vote. - **Application to ROC:** File Form MGT-14 (with ROC) along with the required fees within 30 days of passing the special resolution. - **Issue Public Notice:** After ROC approves the name change, issue a public notice in a leading English and vernacular newspaper about the name change. - **New Certificate of Incorporation:** Upon receiving approval from ROC and compliance with all formalities, ROC will issue a new Certificate of Incorporation with the changed name.
3. **Updating PAN and GST Registration:** - **PAN:** After receiving the new Certificate of Incorporation from ROC, update the company's PAN details with the Income Tax Department by submitting Form PAN Correction Application. - **GST Registration:** Update GST details by submitting an application for amendment of registration particulars (if applicable) through the GST portal.
4. **Fees:** - The fees for filing Form MGT-14 and other applicable forms vary based on the authorized capital and turnover of the company. You can check the exact fees on the MCA website or consult with a professional.
It's advisable to consult with a company secretary or a professional CA to ensure all procedures are followed correctly and to handle any specific requirements or nuances that may arise during the name change process.
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