How to change a private company
Change the AOA i. Check Name Availability: The name proposed to be applied shall be available for the application and hence it is to be chosen carefully and wisely. It will not result in the creation of a new company or entity. The notice will be accompanied by an explanatory statement detailing the reasons for change in name.
Step 2: Check Company Name Availability Once a resolution is passed for ascertaining availability of proposed company name, the authorized director can make a name availability application to the jurisdictional ROC in form INC E-form MGT — 14 shall be filed for intimation of special resolution passed and E-form INC — 24 shall be filed for seeking the approval of Central Government for proposed change.
When the resolution is passed we have to check whether the proposed name is available or not.
The company name change shall be effective only after issuance of Certificate of Incorporation. Change in the name has no impact on its legal entity or its existence as a corporate entity.
Why would a private limited company change to a public limited company
When you start the business that time you choose any name as brand or company name but on the later stage when your business is growing or have to change the business activity that time you are thinking about to change the company name. The Board resolution passed in step 1 will be an attachment to form INC The pending proceeding will not be affected and can continue the proceeding with the old 8 Steps to Change in Name of a Private Limited Company Step 1 : Board resolution of the Company The first step is the preparation of the board resolution for the Change in Name of a Private Limited Company. Once the necessary special resolution is filed with Registrar in form MGT, the company needs to file an application for change of name of the company with the Central Government in Form INC along with the requisite fee. The company comes into existence by following the provisions of law and hence any changes in the constitutional documents of the company shall first be approved by the concerned Registrar of Companies, where it is registered. So hope you like this article. It is far more time-consuming and costly to maintain a PLC than a private company. We shall cover this procedure in detail in another article. Ratification of Contracts: The contracts, which are entered in the name of the company, shall be ratified by the parties of the contract and the name of the company shall be adapted in the said contract or agreements. Can I change a limited company to an LLP? As a private limited company, you may be able to apply for audit exception and your administrative requirements will be much less, thus saving you valuable time and money. The board has to then issue a notice to all Shareholders, Directors, and auditors of the company in accordance with Section of Companies act The MOA i.
Displaying the name of the company: The name of the company after issuance of the Certificate of Incorporation shall be displayed with the previous name of the company. When new Incorporation Certificate is issued then the company should make amendments to the MOA and AOA in order to incorporate the new name of the corporation.
Ratification of Contracts: The contracts, which are entered in the name of the company, shall be ratified by the parties of the contract and the name of the company shall be adapted in the said contract or agreements.
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