Important company updates -Allotment of new Name to be made effective automatically in case of ORDNC is not complied with within timeline

MCA has issued Cos (Incorporation) Fifth Amendment Rules, 2021 to be effective from 1st Sept, 2021.

Allotment of new Name to be made effective automatically in case of ORDNC is not complied with within timeline.

In the Companies (Incorporation) Rules, 2014, after rule 33, the following rule shall be inserted, namely:

“33A. Allotment of a new name to the existing company under section 16(3) of the Act.

(1) In case a company fails to change its name or new name, as the case may be, in accordance with the direction issued under sub-section (1) of section 16 of the Act within a period of three months from the date of issue of such direction, the letters “ORDNC” (which is an abbreviation of the words “Order of Regional Director Not Complied”), the year of passing of the direction, the serial number and the existing Corporate Identity Number (CIN) of the company shall become the new name of the company without any further act or deed by the company, and the Registrar shall accordingly make entry of the new name in the register of companies and issue a fresh certificate of incorporation in Form No.INC-11C: Provided that nothing contained in sub-rule

(1) shall apply in case e-form INC-24 filed by the company is pending for disposal at the expiry of three months from the date of issue of direction by Regional Director, unless the said e-form is subsequently rejected.

(2) A company whose name has been changed under sub-rule (1) shall at once make necessary compliance with the provisions of section 12 of the Act and the statement, “Order of Regional Director Not Complied (under section 16 of the Companies Act, 2013)” shall be mentioned in brackets below the name of company, wherever its name is printed, affixed or engraved: Provided that no such statement shall be required to be mentioned in case the company subsequently changes its name in accordance with the provisions of section 13 of the Act.”.

(3) In the Annexure, after Form No.INC-11B, the following form shall be inserted, namely:

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