Naming Your Private Limited Company is Now Simple! By DHARANI KUMAR - February 15, 2016 Last Updated at: Oct 06, 2020 9217 A meeting of the Board of Directors of Narendra Investments (Delhi) Ltd is scheduled for October 3, 2020 to consider changing the name of the Company. The new name will align with the company’s latest decision to foray into speciality and fine chemicals business. The board will consider the necessary alteration of MOA and AOA of the Company At Vakilsearch, we’re constantly looking to improve the ways start-ups deal with government entities, whenever they have to. The former expects quick solutions, while the latter is the very opposite. So it’s no surprise that entrepreneurs are hugely frustrated by their interactions with the authorities. What seems a small task to them can take days for the Registrar of Companies (RoC) to complete. This is what start-ups in the legal space, such as Vakilsearch, are trying to solve: ensuring that entrepreneurs don’t have to waste their time figuring out legal, without paying hefty fees. Here you can see that naming your private limited company is so simple. Company name search Vakilsearch would be more useful for you. Name Search The earliest event that frustrates entrepreneurs is getting the name of their private limited company approved. The RoC has some rules you need to be aware of (which we’ve listed below) and you must also know which names have already been taken. This can be a time-consuming activity, so we’ve simplified this process by putting together a tool for checking the availability of your company name. Our Vakilsearch company name search tool is updated on a regular basis to ensure the validity of the data. It also lists, along with the CIN, the companies that have the same or a similar name. Based on this, it informs you whether or not your company name is available. Read Also: How to quickly find A name for your company Picking a Name Even before the INC-29 procedure was introduced this May, start-ups found it tough to have their name registered on first try, even though you were allowed to submit six names, in order of preference. Now that the INC-29 only allows one, you need to know the rules before you specify a name or you risk having your form rejected. So how do you pick the name of your company? Learn More about business name registration It’s quite undemanding, really. All the RoC is asking for is for you to first think of a unique name and then follow it up with your business type (the descriptive component of the name). Here’s how it works: 1. Unique Component Take a name like Jasper Infotech Private Limited (this is Snapdeal’s name, by the way), in which Jasper is the unique component. Now, using our tool you’ll find that there are a number of companies with the same unique component. So how did this one get approved? Well, because none of them have Infotech or an IT-related descriptive component. So for each IT-related company, there can be only one Jasper. Note: For the unique component, you can’t have abbreviations, adjectives and generic words. So BBC or XYZ would be rejected, as would Good Quality Biscuits. The words bank, exchange and stock exchange, unless approved by RBI or SEBI, would also be rejected. 2. Descriptive Component The descriptive component depends on the business you’re in. If your in Snapdeal’s business, you would pick Technology Services, which has nine options: Infotech, Infosystems, Tech Solutions, Technology Solutions, Tech, Computers, Innovations, Processors and Informatics. To do a company name search, click here: Company name check 3. No Common Trademark In certain cases, if the name you pick clashes with a well-known trademark, the RoC may object to it. In this case, you can only go ahead with this name if you are able to get a No-Objection Certificate from its owner. Remember, though, when picking a name for your company that it does not matter. As you can see from the example above (of Jasper Infotech and Snapdeal), it’s your trademark that matters to your customers, not your company’s name. Click here to know more: how to pick a company name. Procedure For Change Of Private Limited Company Name: Changing the name of a private limited company is far more complicated than you may think. The procedure to change the name of your private limited company are as follows. Board Resolution Check Availability Special Resolution Approval of Company Name Change New Certificate of Incorporation Alter the MoA and AoA Here’s the detailed step-by-step procedure to change the name of your private limited company.