Rule 33A- Allotment of a new name to the existing company
Ministry of Corporate Affairs (MCA) has notified the Companies (Incorporation) Fifth Amendment Rules, 2021, vide notification dated 22.07.2021, to insert a new rule 33A in the Companies (Incorporation) Rules, 2014 relating to the allotment of a new name to the existing company under section 16(3) of the Companies Act, 2013 which shall come into force with effect from 1st September, 2021.
Rule 33A has been inserted to give into effect the provisions of section 16(1) of the Companies Act, 2013 which provides that the Central Government may issue necessary directions to the company to change its name, in case the name with which it is registered on incorporation or after that, in its opinion, is identical or too nearly resembles to:
(a) Existing name of the company registered under the Act or
(b) Registered trademark under the Trade Marks Act, 1999 and an application by the proprietor is made to the Central Government within 3 years of the incorporation or registration of a new name.
In both the above cases, the company shall be required to change its name within 3 months of issuance of directions after passing an ordinary resolution.
Highlights of the newly inserted rule- 33A
- Rule 33A shall be effective from 1st September, 2021
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- As per the newly inserted rule, in case a company fails to change its name or new name, in accordance with the directions issued by Regional Director (RD) under section 16(1) of the Companies Act, 2013, within a period of 3 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 of the company.
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- The Registrar shall accordingly enter this new name in the register of companies and issue a fresh certificate of incorporation in Form No. INC-11C.
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- The above provision shall not be applied in case E-Form 24 (Application for approval of Central Government for change of name) has been filed by the company and pending for disposal at the expiry of 3 months from the date of issue of direction by Regional Director, unless the said e-form is subsequently rejected.
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- If Regional Director takes above mentioned action against the company, then the company shall comply with necessary provisions under section 12 of the Companies Act, 2013 and mention the statement “Order of Regional Director not complied (under section 16 of the Companies Act, 2013)” in brackets below the name of the company, wherever it is printed, affixed or engraved.
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Read Notification at the following link: MCA Notification - Rule 33A
