Name of company ‑ Availability of ‑ Application form to be filled up in all respects and signed by one of the promoters ‑Instructions to Registrars. - Companies Law - Circular : No. 1 of 1990,

Circular : No. 1 of 1990, dated 5 1-1990. Subject:- Name of company Availability of Application form to be filled up in all respects and signed by one of the promoters Instructions to Registrars. I am directed to refer to this Department s Circular No. 27/1/89 CL III, dated 17th February, 1989, on the above subject (see Clarification 2) wherein you were requested to advise your constituents to ensure that the application form is signed by one or more amongst the promoters and in case one or more of the promoters are thereafter no more interested in participating in the promotion of the new company, a no objection letter from such promoter is made available to the Registrar of Companies at the time of registration of the new company. Instances came to the notice of the Department that some promoters are pre empting the names, which is not a healthy practice. It has, accordingly, been decided that, in future, Registrars of Companies should register the company only in cases where the promoters, as per availability of name and application, are also the subscribers to the memorandum and articles of association of the proposed company at the time of its registration. In case of any change in the name(s) amongst the subscribers, the changed subscribers are advised to make fresh application for availability of name. The Registrar may, as per existing procedure, allow the same name, if otherwise available, after three months from the date when the name was allowed to the original promoter(s).