MCA notifies new rule for allotment of new name for an existing company.

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The Ministry of Corporate Affairs on 22nd July 2021 has published the Companies (Incorporation) Fifth Amendment Rules, 2021 to further amend the Companies (Incorporation) Rules, 2014 which shall come into force from 1st September 2021.

The Amendment notifies new rule 33A which deals with the allotment of a new name to the existing company.

As per the rule, in case if a company fails to change its name or new name, in accordance with the direction issued under sub-section (1) of section 16 of the Act within a period of three months from the date of issue of such direction, the letters “ORDNC” ( “Order of Regional Director Not Complied”), the year of passing of the direction, the serial number and the existing Corporate Identity Number (CIN) of the company shall become the new name of the company without any further act or deed by the company, and the Registrar shall accordingly make entry of the new name in the register of companies and issue a fresh certificate of incorporation in Form No.INC-11C.

However the above rule shall not apply in case e-form INC-24 filed by the company is pending for disposal at the expiry of three months from the date of issue of direction by Regional Director, unless the said e-form is subsequently rejected.

Further, a company whose name has been changed, shall at once make necessary compliance with the provisions of section 12( Application for incorporation) of the Act and the statement, “Order of Regional Director Not Complied” shall be mentioned in brackets below the name of company, wherever its name is printed, affixed or engraved,  Provided that no such statement shall be required to be mentioned in case the company subsequently changes its name in accordance with the provisions of section 13 of the Act.”

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