14 December 2009

Requirement for applying for approval of name for new company

Before incorporation of the company, the promoter or any person authorized by them must apply to Registrar of Company, to confirm whether the proposed name is available for use by the company. The application for name approval is to be made online at MCA portal. The following are list of requirement for applying for name approval.

1 Name of applicant/promoter and digital signature

2 Director identification number (DIN) or Income tax permanent account number(Income tax PAN) or passport number of the applicant/ applicant promoter

3 Promoters’ Director Identification Number (DIN) or Income tax permanent account number (Income tax PAN) or passport number of promoter. Total two promoter are required for incorporation of private company and seven in case of public company.

4 Where promoter is a company, CIN (Company Identification Number) of the company

5 Address as per DIN Application

6 Email address

7 Name of other promoters with Director identification number (DIN) or Income tax permanent account number (Income tax PAN) or passport number

8 Proposed name of the company (maximum 6 in order of preference) with meaning of name in case of coined word

9 Objects of the company to be included in Memorandum of Association

10 Proposed authorized capital

11 Name of First Directors and their approved DIN

12 Filing fees of Rs.500/-

Registrar will approve the name if the proposed name is not similar to or resembles the name similar to existing registered company. The Registrar may also refuse to approve the name when the name is reserved against some application already made and the time limit for formation of new company is not over. Proposed name of the company must end with the word ‘Limited’ in case of public company with limited liability and should end with the word ‘Private Limited’ in case of private company with limited liability. The proposed name should also not violate the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950. Also vide Circular No. F/27/1/87 dated 13-3-1989, use of the certain words in the name of company is restricted. The words are “National”, “Global”, “Industries’, ‘Enterprises’, “Universal”, “Hindustan”, “India”, “Corporation” is restricted depending on the Authorised Capital of the company.