Companies (Name Availability) Rules 2011 - New

The new Companies (Name Availability) Rules, 2011 notified. Key points are:

• Applicant has to give a declaration that he has utilised the search facilities in the www.mca.gov.in, that the proposed name is not an infringement of a trade mark, that the proposed name is not in violation of 'Emblems and Names (Prevention of Improper Use) Act 1950, that the proposed name is not offensive to any section of the people, that he has gone through all the guideline in the Rules and he undertakes to be responsible for any consequence of any contravention of these rules, found out later.
• The Rules cast further duties on the professionals. If the proposed name contains more than one word, then an options is given that a professional's  CA/CS/CWA) certificate on the above matters may be attached. If such certificate (as per Rule 4) is attached, the name will be allotted online. However, if the name, afterwards, found to be undesirable, the professional who certified it will also face penal action under Companies Act and regulations of the respective professional institute.
• This facility is not available for change of names
• Names allotted can be be withdrawn by MCA any time, if it is found that the name was allotted in contravention to any of these regulations.
• The name once allotted will be valid for 2 months. This can be extended to one more month on payment of additional fee. Thereafter, the name will lapse
• It is not necessary that the the proposed name should be indicative of the main object. But if the proposed name is indicative of an activity, then it should be appropriately reflected in the main object. But in the case of financial services companies, the name should indicate the main objects. In the case of companies with main objects as Insurance, Bank, Stock Exchanges, Nidhi, Mutual Funds etc, applicant should give a declaration that the requirements mandated by the respective regulator is complied with.
• The name containing the word 'state' will be alloted to a Government Company only.
• In addition to these, authorised capital limitations are fixed for including certain words in the name. For Example, if the word 'Corporation' should be included in the name. the authorised captial should be Rs. 25 Crores or more. 

For the text of the Rules, please send me a mail