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One Person Company

By Monday, 11-March-2019

Name with alphabets and figure :-

                                          ROCs may allow name with alphabets as such name are being increasingly used many companies in other countries. It should, however, be ensured that the name starting with the small alphabets does not have phonetic or resemblance to the name of the company in existence.

Guidelines for change of name of an existing company :-

                                       In case of application for availability of name for the purpose of existing companies such request can be considered on fulfilling of following condition; Abbreviated name without containing THE OBJECT can be given only if there is a registered trademarks or the company had sizable turnover during the past three years One Person Company.

                    There was no public issue of the company during last five years.  There is up-to –data filling of statutory returns like regarding balance sheet and annual return. Such applicant company must have statutory officers like company secretaries, chief account officers. Managing   director if required under the act One Person Company.

                                                  No changes of name should be allowed in case winding –up petition is pending before any court of law against the company.No changes of name should be allowed in case any authority /court has identified the company as a vanishing /tainted /scam company One Person Company.

Ø                                                    There should not be any non compliance of order of court /tribunal /CLUB in repayment of small deposited / debenture holder. (An affidavit to the effect the applicant is not suffering form (ii) to (IV) is to be furnished along with the application).

Ø                                                 Changes of name shall be allowed to companies to reflect the business of software only if a substantial portion of their income (as reflected form their audited accounts or accounts certified by a chartered accountant) is derived from software business .if this is not proved then such changes of name should not be allowed One Person Company.

Ø                                                   Where the register of companies inform the company or the promoters of the company that the changed name or the name with which the proposed company  is to be registered ,as the case may be ,is not undesirable  , such name shall be available for adoption , By the said company for a period of six months, or By the said promoters of the company for a period of six months form data of intimation by the register, One Person Company.