You can easily reserve a name for your new company using RUN service of MCA. However, MCA has provided rules to keep in mind while selecting a name of company. The following are some basic rules to keep in mind:
- Name must be unique,
- The name shall not be identical or resemble too nearly to the name of any existing company or LLP, you can check the company name from the MCA portal,
- The name shall not be a registered trademark, you can check out the registered trademark from here.
Rules to select Company Name on MCA
- The name shall not include the words indicative of a separate type of business constitution. For example, the name should not contain co-operative, sehkari, trust, LLP, partnership, society, proprietor, HUF, Inc., PLC, etc. in the name.
- The proposed name shall not contain the words ‘British India’
- The name shall not imply association or connection with the embassy or consulate or a foreign government.
- The name shall not imply association or connection with or patronage of a national hero or any person held in a high esteem position in Government.
- The proposed name shall not include words such as ‘Insurance’, ‘Bank’, ‘Stock Exchange’, ‘Venture Capital’, ‘Asset Management’, ‘Nidhi’, ‘Mutual Fund’ etc. To include such words in the name, the applicant must submit a declaration based on the requirement of different regulators such as IRDA, RBI, SEBI, MCA, etc.
- The name shall not include the name of a continent, country, state, city. For example, an applicant cannot choose names like Asia Limited or Germany Limited or Haryana Limited.
- The proposed name shall not imply any connection with the Central Government, State Government, or any local authority. For the use of such words, a previous approval from the authority is necessary.
- The name shall not include the name of a person other than promoters or their close blood relatives. In such a case, the applicant shall take NOC i.e. No Objection Certificate, and attach it with RUN Form.
- The name shall not include the name of any sole proprietor or partnership firm already registered. In such a case, the applicant shall take NOC i.e. No Objection Certificate from the proprietor or partnership firm.
- For the Companies under Section 8 of the Act, the name shall include the words foundation, Forum, Association, Federation, Chambers, Confederation, council, Electoral trust and the like, etc. Every company incorporated as a “Nidhi” shall have the last word ‘Nidhi Limited’ as part of its name.
- The proposed name shall not include words such as Board, Commission, Authority, Undertaking, National, Union, Central, Federal, Republic, President, Municipal, Panchayat, Development Authority, Minister, Nation, Small Scale Industries, Governor, etc. To use such words, previous approval from the Central Government is required.
FAQs
Yes. You can give your new company the same name as your partnership firm. But while filing RUN form you need to attach NOC from the partnership firm.
Yes, you can name your company after your name. However, you need to keep in mind that you are a promoter of that company.
A NIDHI Company is notified under section 620-A of the Companies Act and is classified as “Mutual Benefit Financial Company” by the RBI. Essentially, a Nidhi Company differs from a regular finance
investment company or a Non-Banking Finance company (NBFC), as it deals only with its shareholders or members, for mutual benefits of its members. A Nidhi Company accept deposits only
its members and lends funds only to them on demand. A Nidhi Company is not entitled to carry out business/activities related with hire purchase financing, leasing finance, chit funds, acquisition of
securities issued by any corporate body, etc. or issue any debt instruments (such as preference share,debentures, etc.) in any form
Hello @Dixita
One Person Company (OPC) is a company where there is only one members and one director. Similar to a Company, a One Person Company is a separate legal entity from its promoter and it is easy to incorporate. In order to reserve the name for an OPC, one must file the web-form SPICe+ Part A on the MCA Portal.
You can read the rules to select name of a Company here:
Hope this helps!
What is SPICe+? Can I incorporate an OPC through SPICe+?
Hello @Dixita
SPICe+ is an integrated Web form for incorporating a company offering 10 services. Through SPICe+, you can apply for the name of your company, incorporation of the company, DIN of the directors, PAN and TAN registrations, PF and ESI registration of the company, GST registration, Professional Tax (only in Maharashtra), open a bank account. One can incorporate any kind of Company with SPICe+ be it Private Limited Company, Public Limited Company, OPC, Section 8 Company, etc.
You can learn about the process of incorporating a company through SPICe+ here:
Hope this helps!
Which documents are required to incorporate OPC?
Hey @Dixita
To incorporate an OPC, various documents like self-attested copies of PAN card, Aadhaar Card, Identity Proof, Address Proof, etc., are required of the proposed director and the nominee.
You can find the complete checklist here:
Hope this helps!
Hello @Paritosh_Trivedi
The first director in OPC shall hold the office until the holding of a general meeting. However, the first director can be re-appointed or another person can appointed on that meeting.
An individual CS does not have the authority to change the nominee. After the death of a member, the nominee will become the new member and only that new member will appoint another nominee.
You can refer to the procedure of change in nominee of an OPC here:
Hope this helps!
Hey @Dia_malhotra
It is mandatory for an OPC to convert into a Private Limited Company within 6 months if it surpasses the below-given parameters:
You can read the entire process of conversion of an OPC to Pvt Ltd Co. here:
Here are the key differences between a Private Limited Company and an OPC
Hope this helps!
Hello @CSDEV999
Conversion of OPC to any other Company is only possible by way of:
Hence, in your case it is not possible to convert the OPC to a Pvt Ltd Co., since none of the above-mentioned conditions are satisfied.
Hope this helps!
does a director can get loan from OPC or give loan to opc?
Hello, @Private
As per Section 185, it prohibits loans, advances, etc. to Directors of the company or its holding company or any partner of such Director or any partner of such Director or any firm in which such Director or relative is a partner. Whereas for giving a loan, yes a public company can accept a loan from its directors, but not from the relative of the director.