The name of a company or LLP can be changed by the promoters at anytime after incorporation. Some of the major reasons for change of company name are business model change, change of promoters, rebranding, etc., To change the name of a company, shareholders approval is required along with approval from the Ministry of Corporate Affairs. The change of name of a company or LLP however has no impact on the legal entity or its existence. Hence, all assets and liabilities of the entity would continue, while only the name of the company would have been changed.
Change of company name requires passing of a board resolution, obtaining name approval from MCA, passing of a special resolution and applying for approval of new company name to the MCA. If the MCA accepts the application, a new certificate of incorporation is issued. After obtaining the new certificate of incorporation, changes must be made to incorporate and change the MOA and AOA of the company as well.
E-Tax Book Solutions is the leading business services platform in India, offering a variety of services like company name change, trademark registration, GST registration, LLP registration and more. E-Tax Book Solutions can help you file for change of company or LLP name in India. The average time taken to complete a company name change is about 90 working days, subject to government processing time and client document submission. Get a free consultation on company or LLP name change by scheduling an appointment with an E-Tax Book Solutions Advisor.
Private Limited Company is a legal entity and a juristic person established under the Companies Act. Hence, a company has a range of legal capacities and the members (Shareholders/Directors) of a company have no personal liability to the creditors of a company for company's debts.
Private Limited Company has 'perpetual succession', meaning uninterrupted existence until it is legally dissolved. A company being a separate legal person, is unaffected by the death or other departure of any member and continues to be in existence irrespective of the changes in ownership.
Ownership of a business can be easily transferred in a company by transferring shares. The signing, filing and transfer of share transfer form and share certificates is sufficient to transfer ownership of a company. In a private limited company, the consent of other shareholders maybe required to effect share transfers.
Private Limited Company being an artificial person, can acquire, own, enjoy and alienate, property in its name. The property owned by a company could be machinery, building, intangible assets, land, residential property, factory, etc., No shareholder can make a claim upon the property of the company - as long as the company is a going concern.