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Private Limited Company Name Reservation / Approval

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Private Limited Company Name Reservation / Approval

PRIVATE-LIMITED-COMPANY

Existing Provision

Section 4(5) (i) Upon receipt of an name application under the sub-section (4), the Registrar may, on the basis of information and documents provision along with the name application, the name reserve for a time of sixty days from the date of the application.

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Amendments as per Companies (Amendment) Act, 2017

In section 4 of the principal Act, in sub-section (5), for clause (i), the following shall be substituted, namely: (i) Upon receipt of an name application under sub-section (4), Registrar may, on the basis of documents and information provision along with the application, the name reserve for a period of 20 days from the date of approval or such other period as may be prescribed.

Provided in that case of an application for name reservation or for change of its name by an existing company, the Registrar may reserve the name for a period of 60 days from the date of approval.

Revised Provision

Upon receipt of an application under sub-section (4), the Registrar may, on the basis of information and documents furnished along with the application, reserve the name for a period of 20 days from the date of approval or such other period as may be prescribed: Provided that in case of an application for name reservation or for change of its name by an existing company, the Registrar may reserve the name for a period of 60 days from the date of approval.

Explanation

The period for name reservation is substituted from “60 days from the date of the application” to “20 days from the date of approval or such other period as may be prescribed”. There were concerns that the period of 20 days for name reservation should be from date of approval and not from the date of application. This concern is addressed. A provision for existing companies is also provided. In case of an application for name reservation or for change of its name by an existing company, the Registrar may reserve the name for a period of 20 days from the date of approval. 

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