- A Company shall not be registered by any name, if its use will constitute an offence under law for time being in force.
- It is further provided that if name has been applied with wrong or incorrect information then
- If the company has not been incorporated, then the reserved name shall be cancelled and person making application shall be liable to a penalty which may be 1 lakh.
- If the company has been incorporated, the Registrar may after giving company an opportunity of being heard.
- There are option to direct the Company to change company’s name within period of 3 months from the date of passing an ordinary Resolution.
- Take action for striking off mane of company from Register of companies or.
- Make a petition for winding up of the company.
- Instead the rules, the act prescribes that mane shall be valid for 60 days.
- In the Companies Act 2013 it has been specifically provided that any provision in the MOA & AOA of the company, in case of companies limited by guarantee and not having share capital purporting to give any person a right to participate in the divisible profits of the company otherwise than as a member shall be void.
The provision of the act modified to the extent that in case of company limited shares, the liability section of memorandum shall provide the liability of its member to be limited to the amount unpaid, if nay on the shares held by them (including premium if any) contrary to the Companies Act, 1956 wherein it was limited to the amount unpaid on the face value of shares.
- In the memorandum of association of the company, only objects for which the Company is incorporated along with matters considered necessary for its furtherance shall be mentioned. The requirement of bifurcation of the objects section into main, ancillary and other objects has been done away with.
- The memorandum of company shall be in either of the forms as specified in Tables A, B, C, D and E in schedule I as applicable to such company.
- The rules provides some additional guidelines in addition to the Companies Act, 1956, which are considered while approving the proposed name. some of the key points are outlined below:
- No company shall be registered with word or expression, as mentioned below, unless the previous approval of the Central Government has been obtained for the use of any such word or expression like..
|Municipal||Panchayat||Development Authority||Prime minister||chief minister|
|Minister||Nation||Development scheme||Statute or statutory||Court or judiciary|
- Development scheme or the use of word scheme with the name of government, state, India, Bharat or nay government authority or in any manner resembling with the schemes announced by state or Central or local Governments and authorities.
- The name shall be considered undesirable where it includes or implies association or connection with or patronage of a national hero or nay person held in high esteem or important personages who occupied or are occupying important position in the Government.
- Now application for reservation of name shall be made in Form No INC.1 along with fees as prescribed in the companies Rules 2014. Under the companies Act 1956, the said form was Form 1A.
- The provision of additional period of 30 days for which a name can be reserved by the company after expiry of its original period on payment of necessary fees has been dispensed with.
- In determining whether a proposed name is identical with another, in the factors which are to be disregarded under the companies Act 1956, the following has been dropped:
- Misspelled words, whether intentionally misspelled or not, do not conflict with the similar, properly spelled words.