The Ministry of Corporate Affairs has issued a notice inviting comments on the proposed amendment in the Companies (Incorporation) Rules, 2014 regarding name availability under rule 8 of the Companies (Incorporation) Rules, 2014.
Rule 8 states the grounds on which the differences between the proposed name and existing names of companies is disregarded has been amended and is attached as an Annexure-A to this notice.
This amendment intends to bring more clarity to the rules related to name availability by:
(i) inclusion of illustrations in the rules;
(ii) providing a clear test to determine as to whether the applied name resembles too nearly with the name of an existing company; and
(iii) bringing more clarity in the rule related to “general names”/descriptive names and trademark applicability;
The MCA invites Suggestion/Comments on the proposed amendments along with justification by 31st December, 2018 through email at reservation.name@mca.gov.in .
The format in which it must be sent has been provided in the notice.
Key Highlights
- Illustrations have been provided for every matter which is disregarded for Names which resemble too nearly with the name of an existing company
- The Draft Amendment also provides illustrations for each of the basis of Undesirable names
- The Draft Amendment provides the list of Word or expression which can be used only after obtaining previous approval of the Central Government.
For a detailed read on the Draft Amendment, please refer to the attachment
Source: Ministry Of Corporate Affairs
