Choosing an appropriate name for the corporate is one among the foremost important steps while fixing a business or a corporation . The name which is chosen should be under the principles of the businesses Act, 2013 or indebtedness Partnership Act, 2008. There are certain rules and guidelines in naming the corporate which has got to be followed while choosing a suitable name for Annual Filing for LLP or a corporation .
Generally, a suitable name company or LLP has three parts; they're the title role , the thing part, and therefore the Constitution part. as an example , if the name is ABC Solution Private Limited, the “ABC” represents the title role of the corporate , “Solution” represents the thing part and “Private Limited” represents the Constitution a part of a suitable name of company or LLP. allow us to check out the three parts intimately .
NAME PART
According to the businesses Act or the LLP Act, every company should name themselves with a singular and acceptable name in accordance with the rules . The name must not resemble or be an equivalent as that of an entity or trademark or LLP of an equivalent industry which already exists. as an example , if there's a corporation called ABC potables Private Limited then there can't be any company existing or running with an equivalent name within the same field and it shouldn't whilst ABC potables LLP. However, a corporation with an equivalent name during a different field could also be acceptable. Therefore, it's the founder’s responsibility to make sure the sanctity of the names while choosing for the business.
OBJECT PART
The object a part of the corporate name is vital because it tells what the corporate deals about or all about or the character of business. In short, the thing a part of the suitable name defines the company’s business or activity. albeit the businesses may have or share an equivalent name , if their company’s objects are different, during this sort of situation, an equivalent company’s name are acceptable and is allowed to be registered. Anyway, it's important for the corporate to call their object part very clearly. Company names without an object part are often rejected during the registration process. Here are a number of the well-known object parts, Technology, Textiles, Hospital, Pharmaceuticals, Medicals, Trading, Aviation, Shipping, Information, Manufacturing, Electricals, Mobiles, Containers, Designs, Foods, Hotel, Restaurant, Motors, Power, Steel, Holding, Construction, land , Financial, Travels, Energy, solar energy , Garments, Plastics, and Interiors then on.
CONSTITUTION PART
The constitution a part of the corporate name represents the sort of business or entity. Private Limited Companies are defined by Private Ltd. or Pvt. Ltd Company; Limited Companies are presented by LTD Company or Limited Company; One Person Companies are defined by OPC or One Person Company, and indebtedness Partnerships are presented by LLP or indebtedness Partnership.
Minimum Authorized Capital surely Words
There are certain words which will be utilized in the name of a corporation which needs the corporate to possess a minimum amount of authorized capital for his or her business. Below is that the table with details of the word and therefore the required minimum amount of authorized capital.
Naming Guidelines
As per LLP Annual Filing in India there are certain rules and guidelines which need to be followed while naming a business or entity or company. Here are some such rules and guidelines which need to be kept in mind when choosing a singular and acceptable name.
-> It is not acceptable if the Plural Version of any of the words is employed during a name that's already running the market. for instance , you can't name your company as ABC Steels Private Limited if a corporation already exists has the name as ABC steel Private Limited.
-> It is not acceptable if you modify the case or sort of letters or punctuation marks or the spacing between letters of an existing name to form it a singular name . as an example , changing ABC Construction Private Limited to Abc Construction Private Limited.
-> It is not acceptable if you are trying to hitch any words or separate any words, like, don't change ABC Construction Private Limited to A B C Construction Private Limited then on.
-> It is not acceptable if you modify the tense or number of a word within the name which works within the same field or industry. for instance , ABC Construction Private Limited can't be changed to ABC’s Construction Private Limited.
The use of various spelling or phonetic spelling with variations can't be acceptable as a singular name.
-> It is not acceptable if you misspell certain words within the name intentionally to form the corporate name unique because the checking of the name is completed with the right spelling or words only.
-> Adding internet-related designations like .com, .net, .edu, .gov, .org, .in then on to form it as a singular name isn't acceptable.
It is not acceptable to feature any common names or the name of an area or titles to form the name as a singular name. However, in some cases, the names with places can also be allowed and to urge this, you've got to submit the no objection letter from the prevailing company by way of Board resolution.
-> Different combinations of an equivalent name or words aren't acceptable. Such as, Manufacturers and Traders can't be accepted as Traders and makers .
There are certain criteria that qualify the names as undesirable.