Streamline your tax compliance with our expert-assisted GSTR 9 & 9C services @ ₹14,999/-

Tax efficiency, interest avoidance, and financial control with advance payment @ 4999/-
Company Name Search

Naming Your Private Limited Company Is Now Simple!

Want to start a private limited company but don’t know how to go about it? Start by choosing a unique name for your company and getting it registered. Keep reading to learn all about how to name a company in India.

Decathlon, a French sports equipment manufacturer, launched a unique programme in Belgium to promote “reverse shopping,” in which citizens can sell their used sporting goods to the corporation. In order to promote this initiative, it has also changed its name to Nolhtaced in some Belgian cities.

 At Vakilsearch, we’re always looking for ways to enhance how startups interact with government entities when they are required to Name search for their organisation. The former demands immediate solutions, whilst the later is the polar opposite. It’s no wonder that entrepreneurs feel irritated with their dealings involving government officials. What appears to them to be a simple procedure can take the Registrar of Companies (RoC) days to perform.

This is what legal start-ups like Vakilsearch are attempting to fix: by ensuring that entrepreneurs don’t have to waste time working out legal without paying exorbitant rates. As you will see, naming a private limited company is extremely simple with the help of Vakilsearch’s company name search tool and legal experts. 

Name Search

The first thing that irritates entrepreneurs is getting their private limited company’s name approved. The RoC has several rules you should be aware of (which we’ve outlined below) and you should also be cognizant of which names are already taken. This can be a time-consuming task, therefore we’ve made it easier by creating a tool for checking the availability of your company name. 

Our Vakilsearch corporate name search engine is regularly updated to ensure the accuracy of the data. Along with the CIN, it also lists companies with the same or similar names. It notifies you whether or not your chosen company name is available based on this.

Picking a Name

Even before the Spice+ system was implemented, start-ups struggled to get their name registered on the first try, despite the fact that you were allowed to submit six names in order of choice. 

Now, if an application is made ONLY for name reservation, i.e. if SPICe+ Part A is submitted separately, two names can be proposed. However, only one name can be recommended when submitting a complete SPICe+ for name reservation and incorporation.

It’s quite a tedious task, really. Since the RoC is asking for it 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

Consider the name Jasper Infotech Private Limited (which, by the way, is Snapdeal’s company name), where Jasper is the distinguishing feature. Now, utilizing our technology, you’ll notice that there are other organizations with the same distinct feature. So, how did this one get through? Because none of them contains the word Infotech or an IT-related descriptive component. As a result, in the IT-related sector, there can only be one organization named 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. Moreover, 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 type of business you’re in. If you are in Snapdeal’s business sector, 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. Your company name does  not matter as long as you have a solid trademark. 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 about: How to pick a company name.

Procedure For Change Of a Private Limited Company Name

Changing the name of a Private limited company is far more complicated than you may think. The formalities required to change the name of your private limited company are as follows.

  • Passing of a board resolution
  • Name availability check
  • Passing of a special resolution
  • Getting approval for new company name 
  • Obtaining a new certificate of incorporation
  • Altering the MoA and AoA

Read More:


Subscribe to our newsletter blogs

Back to top button

Adblocker

Remove Adblocker Extension