What is the name clause in the memorandum of association? Describe the procedure for alteration of the name. What are the effects of change of name?
Understand the Problem
The question is asking for an explanation of the name clause in a memorandum of association, including the procedure for changing the company's name and the effects of such a change.
Answer
The name clause specifies a company's official title. To change it, approve a special resolution and get central government approval. A new name legally replaces the old one.
The name clause in the Memorandum of Association specifies the official name of the company, ensuring it is unique and legally recognized. To alter this name, a company must pass a special resolution and receive approval from the Central Government. The effects of a name change include the abolition of the old name and legal recognition of the new name, affecting contracts and legal proceedings.
Answer for screen readers
The name clause in the Memorandum of Association specifies the official name of the company, ensuring it is unique and legally recognized. To alter this name, a company must pass a special resolution and receive approval from the Central Government. The effects of a name change include the abolition of the old name and legal recognition of the new name, affecting contracts and legal proceedings.
More Information
The name clause is crucial for brand identity and legal recognition. Changing it requires careful legal compliance and can have significant business impacts.
Tips
Ensure all legal documents and stakeholder communications reflect the new company name immediately after the change.
Sources
- Alteration in Name Clause of MOA - EAdvisors - eadvisors.in
- PROCESS OF ALTERATION IN NAME OF COMPANY - ICSI - icsi.edu
- Change Company Name Online - Benefits, Procedure, Documents - corpseed.com
