A Limited Company is identified by a name and the selection of name is as per the discretion of a company. In other words, a company can alter its name whenever it wants to. However, the name change should be as per the regulations and procedures of company laws.
Reasons for Changing company’s name
Change of business activity of the company.
Change to reflect brand of the company.
Change as per government order.
Conditions to fulfill for Changing Company’s Name:
A time period of at least 1 year should have elapsed from the last name change.
At least 50% of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name, or, the amount invested in the new activity/project is at least 50% of the assets of the company.
The new name along with the old name shall be disclosed through the web sites of the respective stock exchange/s where the company is listed for a continuous period of one year, from the date of the last name change.
