Name change

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Megha Choudhary (Querist)
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10 February 2017 Dear sir,

I have a query regarding name change of a company.
If the Company changes its name in current financial year,whether annual accounts filed by company will be filed under new name or old name .Reply awaited.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 February 2017 New name, but former name should be disclosed for 2 years ( preferably under new name). Inference -1 st proviso to section 12(3).

Megha Choudhary

Megha Choudhary (Querist)
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16 February 2017 Dear sir,

What will be the implications if company chnages its name in the next financial year , i.e., 2017-18 , suppose in the month of April, then will be the company file its accounts under new name or old name?

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
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03 August 2024 When a company changes its name, there are specific procedural steps and implications regarding how it files its annual accounts. Here’s how the process works:

### **1. If the Company Changes Its Name in the Current Financial Year:**

- **Filing Annual Accounts:**
- The annual accounts for the financial year in which the name change occurs should be filed under the new name of the company. This is because the name on all legal documents, including annual accounts, should reflect the current name of the company as per the Companies Act, 2013.
- Ensure that the name change is reflected in all official documents, including the balance sheet, profit and loss account, and the director’s report.

- **Implications:**
- **Consistency:** All documents filed with the Registrar of Companies (ROC) and other regulatory bodies must use the new company name.
- **Communication:** Notify all stakeholders, including clients, vendors, and banks, about the name change to avoid confusion and ensure that all future transactions are conducted under the new name.
- **Update Records:** Update your company’s name on all legal documents, contracts, and other business papers.

### **2. If the Company Changes Its Name in the Next Financial Year:**

- **Filing Annual Accounts:**
- For the financial year in which the name change occurs (e.g., 2017-18), the annual accounts should be filed under the new name. This means that the accounts for the financial year starting from April 1, 2017, to March 31, 2018, should reflect the new name of the company if the name change was effective in April 2017.

- **Implications:**
- **Current Financial Year Accounts:** For the financial year 2017-18, if the name change happened in April 2017, you should file the annual accounts under the new name.
- **Previous Financial Year Accounts:** The accounts for the financial year prior to the name change (e.g., 2016-17) will be filed under the old name. There is no need to amend past accounts; just ensure that future filings reflect the new name.

### **General Considerations:**

- **ROC Notification:** Ensure that the ROC is notified of the name change by filing the appropriate forms (e.g., Form INC-24) and obtaining a new Certificate of Incorporation with the updated name.
- **Bank Accounts and Contracts:** Update your company’s name with banks, customers, and suppliers. Ensure that all contracts and agreements reflect the new company name to avoid legal issues.
- **Website and Branding:** Update your company’s website, branding materials, and any other public-facing documents to reflect the new name.

### **Conclusion:**

- **Current Financial Year:** File the annual accounts under the new name.
- **Previous Financial Year:** The accounts for the year before the name change should be filed under the old name.

By ensuring that all records and documents reflect the company’s new name after a change, you maintain consistency and legal compliance in your business operations.

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