ACCEPTABLE NAMES FOR THE PRIVATE LIMITED COMPANY
Private limited company is the type of company that offers limited liability, or legal protection for its shareholders. With this, it is the place with the certain restrictions on its ownership.
It is the type of privately held small business entity, and also which restricts the rights of its members to transfer its share and doesn’t send limitation to the public for subscription of its shares.
The acceptable names for the private limited company start with the company’s registered name. While going for the registration many of the private limited company are not acceptable. The issues with regard to their name are, they are copied from others, certain unacceptable conditions etc.
For starting up of any of the company, a minimum number of 2 members are required and a maximum number of 200members as per the provision of the Companies Act, 2013.
Choosing acceptable names as per the Companies Act, 2013, is the most important steps in the incorporation process of company. With considering factors of the acceptable names, firstly the name must be unique, it should not be the same or similar to already existing company. Every company must include an objective part, which is clearly stating the nature of the business of the entity.
In the few of the cases, where the similar names have existed, then in that situation, there should be the different objective factor. But the same name for a company in a different industry may be allowed. That’s why the founders must ensure the sanctity of the names.
There are various situations under which the companies houses will refuse to register a company name if its use would constitute offence or any offensive subject either it is implying a connection with any of the government(local or central). If any of the symbols, words, characters, which is not permitted, would be considered the reason for the non-registration of the company.
The acceptable names for the private limited company go with the various acceptable factors. If it would come under any of the mentioned non-registered factors then in that situation the acceptance will not be approved.
There would be included various steps and with each and every verification the final approval will considered. Therefore the acceptable names for the private limited company are termed as the most important factor for starting up any company.
Author: This blog is written by Ms. Deepshikha Dabi, a passionate blogger & intern at Aapka Consultant.
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