Process of Change in Name and Objectives of a Company
It is understandable that some startups may have been in a confused state of mind while deciding the name and objectives of the company while registering their company under the ministry of corporate affairs. That is why there is a legal way of changing the name and making changes in the objective of the company. The companies can now easily change their company name and also the aims and objectives without struggling.
Our corporate consult is all that the companies who want to make changes in the name and objective of the company need. We provide the best consultation which will surely help you in a great deal with the procedure and formalities that need to be done for successfully doing the same. One would surely want to avoid any problems or mistakes while going through this process as it may result in failure in making changes in the company name and objectives.
Procedure For Changing Name And Objectives
The companies may want to change the main objective of the company or the objectives which help the company to achieve its main objective which is also known as ancillary objective. Here is an established procedure if a company wants to change its name and objectives:
- Resolution: The foremost step towards this process is by passing a resolution to make necessary changes in name and objectives at the meeting. The director of the company is supposed to sign the resolution on behalf of the company. The meeting of the board should contain all the necessary members of the corporation so that there is no dispute.
- Special Resolution: After passing a resolution, now comes the second step which is the passing of a special resolution which would mention the essential facts about the company and its working and will be issued to all the members of the company.
- MGT-14 Form: After the above two steps, now the company and its director need to fill the MGT-4 form to the registrar of companies to proceed ahead for this cause. Also, along with the MG-14 form, there are certain important documents which need to be submitted to the registrar of companies for successful completion of this step.
- New Certificate of Incorporation: When the company is over with submitting the form along with all the documents, the RoC will check each and everything and then issue a new certificate of incorporation to the company which would highlight the new changes.
FAQ’S On Change In Name And Objectives
The first step in changing the name and objectives of the company is passing a resolution in a board meeting of all the shareholders of the company.
The last step of making changes in the name and objectives of the company is the issuing of new certificate of corporation of the company.
The above information is wha you need before taking the first step of the change in the objectives of the company. Our corporate consult is always there for any further assistance in future regarding any corporate work.