It is essential that the Memorandum of Association and Articles of Association be change when changing a company name. Company names can be change by a special resolution pass in a general meeting and approved by the Central Government under Section 13 of the Companies Act 2013.

The following steps outline how to change the name of a private limited company:

1. Passing a Board Resolution When Partners Are in Agreement

A board meeting should be call in order to pass a resolution to change the company name. The board of directors will discuss and approve the change company name, instructing the CS or Director to check with MCA if the name is available, and calling an extraordinary general meeting to pass a special resolution.

2. Checking The Availability Of a Name

An authorized director or secretary will submit an INC-1 form to MCA for the purpose of checking the availability of the company name and approving it. This process is the same as that adopted at the time of initial name approval.

An official RoC letter will be sent confirming the propose name is available. This will not be deemed the final approval of the company name, it is just a confirmation from RoC that the propose name is available.

3. Passing the Special Resolution

The company should call an extraordinary general meeting once MCA has approved the name. Changes to the Memorandum of Association and Articles of Association will be made through a special resolution.

4. The Registration Process

The special resolution will be filed with RoC within 30 days of passing the resolution. It should also be accompanied by Form MGT-14, containing details about the special resolution. Please submit the following documents along with Form MGT-14:  

1. Copy of Special Resolution,
2. The EGM notice,
3. Statement to the EGM,
4. Also Changes to the Memorandum of Association,
5. Changes to the Articles of Association

As soon as the MGT-14 is filed, the company must file the INC-24 with the RoC for the central government’s approval along with the prescribe fee for change company name.

5. Certificate of Incorporation Issuing

It will issue a new certificate of incorporation if the Registrar of Companies is satisfied with the documents.

The name change process is not complete until the new certificate of incorporation is issue by the RoC.

6. Including company name in MoA and AoA

As soon as a new certificate from RoC is receive, the name of the company must be include in all the copies of the MOA and AOA.

 Special 7 Resolutions For Changing A Company Name

You must pass a special resolution for the change of company name if ACRA approves the new name.

You need to complete the following steps in order to pass a special resolution:

1. Prepare a written resolution to change company name.
2. Decide when to hold the general meeting.
3. Inform all shareholders of the date of the meeting and the resolution to change the company’s name.
4. The resolution to change the company name must be approve at the meeting by members holding at least 75% of voting rights.
5. A copy of the resolution must be submit to ACRA within 14 days. BusinessLife+ makes this simple.
6. Also After filing with ACRA, your company name change will be updated. You will be required to file a notice of company incorporation under your new company name, and the change will take effect once the notice is filed.
7. Make sure that the change has been made to your company name on BizFile+.

Keep Your Customers, Website And Suppliers Updated

Your customers and suppliers must also be notified about the change. This is particularly true for partners and suppliers.

It is not enough to take care of these things.

Your company’s logo should be refresh first. You will be doing business under a new name and your old logo is no longer valid. You should redesign the logo so that it reflects your new business name. It would be best to start over with a new logo in this case.

Then, review your marketing strategy. If your change company names, you will have to change your marketing strategy. The right marketing strategy empowers business owners to make better choices with regard to reaching new customers, improving their reputation in their communities, and also keeping loyal clients.

Are You Ready To Change The Name Of Your Business?

Have you decided to change company name in Bangladesh? Read over this mini-guide again if you are still unsure. Make sure you take certain steps before you start the process.

It is important to have a clearly defined strategy, a budget, and most importantly, to fix what isn’t working. No matter how important it may be, a new name will not necessarily fix a broken business. No matter what name you decide to use for your business, you should determine if it’s the name alone that puts your business at risk.

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What Are The Effective Ways To Protect My Company From Business Risks?

You should think about protecting your rebranded business now that you’ve decided on a new name. You’ve spent a lot of time and money on rebranding, so make the most of it. You will be left out in the cold if your business is struck by a massive lawsuit or if a fire rips through your assets. Provide offers companies the quickest and also easiest way to protect themselves. Contact us for change company name in Bangladesh.