The government changed the rules regarding allocating new names to companies

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Mumbai: The Central Government has made changes in the rules relating to the formation and structure of companies under the Companies Act-2018, which will come into effect from September 1. The Ministry of Corporate Affairs, which has implemented the Companies Act-2018, has amended the Companies (Incorporation) Rules-2016.

Under Section 13 of the Act, changes have been made in the rules for allocating new names to existing companies. Article 13 deals with the amendment of the name of a company subject to various conditions, in which the Government may direct a company to change its name if a company with such a name or a mixed name already exists. If any such instruction is given, the company will have to abide by it within three months.

The ministry has introduced new rules in which the tag 'ORDNC' (Order of Regional Director Not Complied) will be attached to a company which does not comply with the instructions within the stipulated period.

According to the new rules, ORDNC, year of issue, serial number of the company and current corporate identity number will be the name of the company.

In addition, the companies will add new names to the register of registered companies and issue a new certificate of establishment.


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