CA Arpit Verma (Financial Accountant) (92 Points)
18 July 2011Hi
Can any one tell me the time limit upto which the old name of a company has to be shown in the financials after the name change. Eg - XYZ Private Liminted (Formaly ABC Private Limited). Also menton the relevant section/ rules
Regards
Arpit
nidhigoel89
(Company Secretary )
(596 Points)
Replied 18 July 2011
Hello,
As such there is no such requirement given. In case of listed Co. the period is mentioned under listing agreement.
So, its upon the decision of Board that to decide for what period they want to disclose the new as well as old name.
Contrary view are welcomed
regards
Nidhi
Nidhi Jain
(CS )
(987 Points)
Replied 19 July 2011
In the case of listed co. such time period is given in clause 32 i.e. one year. But in the case of unlisted co. it is for easy covenience to show the old name with new name. I want to share here a practical example of our unlisted Group Company. Last year we had changed the name of our one group Co. (Everybody 9 that everything remain same after changing the name . Only co. name is changed not entity itself) After name change we also have to publish such name change in atleast 2 newspaper. but after this we had faced a problem that sales tax authority stoped to clear our Bills because Bills shows New name and old one was not disclosed at the same Bill. Sales tax Authority was not aware about such Name change. Than I have to give resolution and other evidence as demanded by such authority these things make easy work harder and create inconvenience. So it is advisable to show old name also with new name so that new name come into Knowledge of Public at large. U 9 that we rad that news only in which we have interest if I have no personal Interest we shall not like to see the name change or change in constitution of a co.
Gunjan
(finance executive)
(30 Points)
Replied 27 April 2012
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