How Do I Get Company Name Approval?

Company name approval is a simple process that can be completed online. To get started, check the availability of your proposed name on the MCA website. Read now

Company Name Approval

Company name approval is the process of getting your company name approved by the Registrar of Companies (ROC). This is a necessary step in incorporating your company in India. To get your company name approved, you need to file a RUN (Reserve Unique Name) application with the ROC. You can do this online through the MCA portal. In the RUN application, you need to propose two names for your company. The ROC will then review your application and approve one of the two names.

Company Name Approval Application Form 

Section 1: Company Information

• Company Name:
• Company Type: (Public Limited Company/Private Limited Company/One Person Company)
• Registered Office Address:
• State:
• PIN Code:

Section 2: Applicant Information

• Name:
• Designation:
• Address:
• Email:
• Phone Number:

Section 3: Proposed Names

(Please list up to six proposed names in order of preference)

• Name 1:
• Name 2:
• Name 3:
• Name 4:
• Name 5:
• Name 6:

Section 4: Declaration

I hereby declare that the information provided in this form is true and correct to the best of my knowledge and belief. I also understand that the Registrar of Companies reserves the right to reject any proposed name that is undesirable or objectionable.

Signature of Applicant:

Date:

Section 5: For Official Use Only

• Name Approved: Yes/No
• Reason for Rejection (if applicable):

Signature of Registrar:

Date:

Procedure to Get a Company Name Approval 

Check the availability of the proposed name. You can do this by using the RUN (Reserve Unique Name) service on the Ministry of Corporate Affairs (MCA) website.

Step 1: Apply for Company Name Approval

You can apply online through the MCA portal. You will need to fill out the SPICe+ form and select the ‘Part A – Company Name Approval’ option. You can also submit a physical application to the Registrar of Companies (ROC) in the state where the registered office of the company is situated or is to be situated.

Step 2: Pay the Prescribed Fee

The processing fee for company name approval is ₹1,000. You can pay the fee online through the MCA portal or by submitting a demand draft in favour of the ROC.

Step 3: Submit the Required Documents

In addition to the SPICe+ form, you will also need to submit the following documents self-attested copy of your identity proof (PAN card/Aadhaar card/Driving License), a copy of the MoA and AoA of the proposed company, A copy of the board resolution authorising the application for company name approval (if applicable)

Step 4: Wait for Approval 

The ROC will process your application within 21 days of receipt. If your proposed name is approved, you will receive a reservation certificate. The reservation certificate is valid for 60 days.

Step 5: Incorporate the Company

Once you have received the reservation certificate, you can proceed to incorporate the company. You will need to file the SPICe+ form again, but this time you will select the ‘Incorporate Company’ option.

Research the Availability of the Proposed Company Name

• Step 1: Go to the MCA website and click on the ‘Services’ tab
• Step 2: Under the ‘Company Services’ section, click on the ‘Name Availability’ link
• Step 3: On the RUN page, enter your proposed company name and click on the ‘Search’ button
• Step 4: The RUN service will search the MCA database to see if your proposed company name is available
• Step 5: If your proposed company name is available, you will see a green message saying ‘The Company Name is Available’
• Step 6: If your proposed company name is not available, you will see a red message saying ‘The Company Name is Not Available’.

Fill out the SPICe Plus form 

The spice form usually has the following fields to fill it out. Make sure to fill in the required details without any errors. 

The application form is divided into several sections to gather comprehensive details

1. The first section has  essential company information such as name, type, and address is required
2. The second section pertains to applicant information, including name, designation, and contact details
3. The third section involves listing all directors of the proposed company, with their relevant details
4. The fourth section focuses on subscribers to the Memorandum of Association, detailing their names, designations, and shares subscribed
5. Section five covers nominees of the subscribers
6. Section six is a declaration where the applicant affirms the accuracy of the information provided
7. The final section is for official use, indicating whether the application has been processed, with space for reasons if rejected, along with the Registrar’s signature and date.

Conclusion

To get company name approval in India, you need to check its availability on the MCA website, submit an application and required documents through the SPICe Plus form, and pay the fee. If approved, you will receive a reservation certificate valid for 60 days, within which you need to incorporate the company. For more information consult an expert from Vakilsearch for detailed insights.