Procedure to Change the Name Of NBFC
For change in the Name of NBFC you need prior approval from RBI and then MCA can allow you to amend the MOA.
What is Procedure to change the name of NBFC
The Name change procedure of NBFC is very much similar to similar to non NBFC company except for the need of RBI Approval in advance. Name Change in a company usually is done due to change in business activity of the company. Name change also occurs if there is change in management of the company. If an NBC needs to change its name, it needs to pass a special resolution in a board meeting. The minutes of the meeting needs to be submitted to the Ministry of Corporate Affairs (MCA) with the request for name change.
Step by step analysis for change in the name of NBFC
Rest procedure will be same as a normal private or public limited company.
Check the name availability at MCA and on trademark website. The new name shall be in adherence to the naming guidelines provided in the Companies Act, 2013.
The necessary form needs to be filed with ROC with the attachment of RBI NOC and the board resolution as well along with other requirements of the form to get final approval from the concerned ROC.
Within 30 days of passing the special resolution for a name change, the company needs to fileform MGT-14 with MCA with the attachment of Notice of extraordinarygeneralmeetingalongwiththeexplanatorystatements; certified true copy of Special resolution passed; Altered MOA and AOA; and Minutes of the EGM. After filing form MGT-14 you need to file form INC-24 with CG along with Notice of EGM along with the explanatory statements, CTC of Special resolutions, altered MOA & AOA and Minutes of the extraordinary general meeting;
We need to file necessary form with ROC with the attachment of RBI NOC as well along with other requirements of the form and get final approval from the concerned ROC. After getting the name approval from ROC, the original Certificate of Registration as issued by the concerned Reserve Bank of India needs to be surrendered to the same department of Non-Banking’s supervision to get new Certificate of Registrations as Non-Banking Finance Company with new name reissued by the concerned Department.
For changing the name of company, you need to publish an advertisement in the in an English newspaper and in a Vernacular language newspaper where the registered office of the company is situated.
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