MCA inserts New Rule for Allotment of New Name to Existing Company: Notifies New Form [Read Notification]

MCA - New Name - Name Allocation - Taxscan

The Ministry of Corporate Affairs ( MCA ) has notified the Companies (Incorporation) Fifth Amendment Rules, 2021 to insert a new rule 33A relating to the allotment of a new name to the existing Company under section 16(3) of the Companies Act, 2013.

As per the new rule, in case a company fails to change its name or new name, in accordance with the direction issued under sub-section (1) of section 16 of the Act within a period of three months from the date of issue of such direction, the letters “ORDNC” (which is an abbreviation of the words “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 by the company, and the Registrar shall accordingly make entry of the new name in the register of companies and issue a fresh certificate of incorporation in Form No.INC-11C.

However, the above shall not be applicable in case e-form INC-24 filed by the company is pending for disposal at the expiry of three months from the date of issue of direction by Regional Director unless the said e-form is subsequently rejected.

“A company whose name has been changed under sub-rule (1) shall at once make necessary compliance with the provisions of section 12 of the Act and the statement, “Order of Regional Director Not Complied (under section 16 of the Companies Act, 2013)” shall be mentioned in brackets below the name of the company, wherever its name is printed, affixed or engraved: Provided that no such statement shall be required to be mentioned in case the company subsequently changes its name in accordance with the provisions of section 13 of the Act.”,” the notification said. The notification further introduced a new Form INC-11C for the certificate of Incorporation pursuant to change of name due to the Order of Regional Director not being complied.

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