Whether it is mandatory to take in-principle approval of the regulatory authority?
It is mandatory to attach the approval of the regulatory Authority at the time of filling of incorporation or change of name of the company where the object of the Company is of Insurance agent/ Broker activities/ NBFC/ finance.
Key points to be kept in mind while choosing the name for a company
Name of a company is what differentiates a company from others and it builds the image of the Company. For reservation of name, Form RUN is required to be filed with the Registrar of Companies (Registrar/ RoC).
In general, name of a company is divided into three parts:
[Trade Name] + [Object to be pursued by the Company on its incorporation] + [Limited/ Private Limited]
While choosing the name for a company, it is very essential that the person shall keep the following points in mind:
The name must not be identical with the name of an existing company or a Limited Liability Partnership (LLP);
The name must reflect the business activity of the company;
The name should not be offensive under any law;
The name should not be undesirable in the opinion of Central Government;
The proposed name should not be identical with the name of a company that has been dissolved for a period of two years from the date of such dissolution;
The proposed name should not be identical with the name of a company that has been struck off for a period of twenty years from the date of publication in the Official Gazette of the notice of being struck off;
The name shall not be identical with the name of a LLP in liquidation or the name of a LLP which is struck off up to a period of five years;
The name should be in line with the provisions of the Companies (Incorporation) Rules, 2014 [as amended from time to time]
For detailed provisions on reservation of name Click Here