Status of properties of a Pvt Company after change in name.

697 votes

Dear Querist

If you are changing the name of the Company then you would be required to get the name changed in Pan, VAT etc. and at other places too. We can formalise the structure and provide our service to do the same. Let us know in case you require hand holding onto that

Advocate Kanishk Agarwal LawRato

833 votes

To be honest on my part your explanation about the subject and circumstances is vague and it is extremely hard to give you a suggestion with these lines of information.
However presuming few things in the subject I can conclude like -
- In case the company is going to be renamed with all the staff and other entities remaining same then payment of stamp duty afresh is not required.
- In case the company is going to be renamed along with its business purpose and entity which from the business angle looks like a new venture taken by any new team based on the resources available with the old organisation then yes the stamp duty has to be paid afresh.
- In case the company is getting renamed with amendments in MOA and has sufficient ground to prove that the business entity as a whole is same then payment of stamp duty is not required.
- In case the company is going for any Joint Venture, Split off, Merger and Acquisition, demerger or any such sort of type then yes the payment of stamp duty is required.

I have dealt this sort of case when I was involved in the Merger and Acquisition of Trident Corporation Limited in to Trident Limited. The government asked us to pay the stamp duty for transferring such land which were registered on the name of TCL in to TL in spite of the fact that both companies were of same group.
So for me, unless and until I don't get to see the exact documents of your company and its future plans it will be difficult to guide you to anywhere.

Advocate Pulkit Prakash LawRato

668 votes

The change in the name of he company does not give rise to new entity, hence no need to pay stamp duty. Utmost approach the registrar of properties with fresh certificate issued pursuant to change of name by the Registrar of Companies and get the fresh name endorsed on the register. Further no need to obtain fresh registration under PAN or VAT etc you should apply for change of name with respective departments.

Advocate Sarwar Raza LawRato