Company Registration and Incorporation is the formation of a new company. The company could be a startup, a business, a micro small, or medium scale business. MCA regulates the affairs of companies registered in India through the Companies Act, 1956, 2013, and other relevant bills and rules.
A company name creates an identity of your business and represents what your brand stands for – so people can associate with it. It is important to put in thought and time in deciding a name for your company.
The Ministry of Corporate Affairs (MCA) has a regulatory framework that needs to be considered while naming a company and if a company does not fall under the guidelines set out by MCA, your application might be rejected.
- Do not add common words like New, Modern. Nav, Shri, Sri, Shree, Om, etc. to an existing company name. It might get rejected.
- The proposed name to be registered should not be similar to or identical to any existing company’s name or registered trademark, or a trademark under the process of registration for that matter.
- In a case where your company name is different from another only because of the difference of adding the name of the place of business, the MCA will not approve in that case. Eg. Modi Lucknow Industries Limited will not be allowed if, Modi Industries Limited already exists.
- You would be required to get formalities mandated if the name includes words like ‘Bank’, ‘Insurance’, ‘Stock Exchange’, ‘Asset Management’, ‘Nidhi’ etc., formalities, in this case, would be required from regulators like RBI, SEBI, MCA, IRDA, etc. subject to the word.
- Abbreviated names such as “ABC Limited” or “123 Limited” would also be rejected.