MCA prohibits use of word “National” and restricts use of word “Bank” or “Stock Exchange” or “Exchange” in the names of Companies or Limited Liability Parnerships (LLPs)

It has come to the knowledge of the Ministry that Companies/Limited Liability Partnerships are being registered with the word ‘National’ in their names.¬†MCA intimates (CIRCULAR NO.2/2014 [F.NO.2/2/2014-CL-V], DATED 11-2-2014) that no company should be allowed to be registered with the word ‘National’ as part of its title unless it is a government company and the Central/State government(s) has a stake in it. This should be stringently enforced by all Registrar of Companies (ROCs) while registering companies. Similarly, the word ‘Bank’ may be allowed in the name of an entity only when such entity produces a ‘No Objection Certificate’ from the RBI in this regard. By the same analogy the word “Stock Exchange” or “Exchange” should be allowed in name of a company only where ‘No Objection Certificate’ from SEBI in this regard is produced by the Promoters. Visit www.corpsolute.com

Comments are currently closed.