All about Company/LLP name withdrawal process

Selecting a Company or LLP name is the most important step towards the company registration process. It is essential to select a name that is unique and which will give recognition to the company. A unique name of the company must be reserved with the Ministry of Corporate Affairs (MCA). But when there is some mistake or error made in the name while applying for the same on MCA, it can be reversed by adopting a company / LLP name withdrawal process on the MCA portal.

What is a Company / LLP name reservation?

• The Ministry of corporate affairs has introduced a new form which is called SPICe plus (SPICe +) in January 2020 to facilitate the entrepreneurs which offer multiple services which including Name reservations for the company.
• Name Application for a Company could be made through SPICe+ Part A under New Application.
• Hence, when one wishes to incorporate a company and the question of Reservation of name arises, the only thing that the person needs to do is file an application for name reservation in Part A of form SPICe Plus.
• However, LLP-RUN (Limited Liability Partnership – Reserve Unique Name) is filed for the reservation of the name of the proposed LLP.

Change in the Name of the company via RUN

• Many times there arrives such circumstances where the company needs to change the name of the company.
• Such circumstances are Change of business activity of the company, Change to reflect the brand of the company, Change as per government order, etc.
• In such case, the application for Company name change shall be made in RUN.

Withdrawal of Company name / LLP name

Withdrawal of the company name / LLP name means withdrawing of the company / LLP name after the application for the reservation of the company / LLP name but it is pending to be approval by the MCA. There are reasons why you would need to withdraw the company name, let us have a look at the same further in this article.

Reasons for withdrawing Company name / LLP name on MCA

Sometimes it happens that the company name or LLP name that you applied, has to be canceled or changed for the following reasons:

• When the application for the name is wrongly or mistakenly filed, the application can be canceled.
• The name applied is wrong.
• There is a spelling mistake.

Process for Withdrawal of Company name

When for any of the above reasons, the company / LLP name needs to be canceled, then the LLP / Company name can be withdrawn by canceling the SRN for the Company / LLP name reservation application.

The Steps to cancel the SRN for Company /  LLP name

• Visit the MCA Official website and Login at the MCA portal (http://www.mca.gov.in)
• Select the tab of “My Services” and in that select Service related compliant tab.
• In the SRN field, enter the SRN to be canceled and click submit. The SRN details will be displayed.
• Mention the Details required in it and Select “CRC” in type and in Category there will be 5 Options selected as per your requirement, 5 Options are, Approval and Rejection, Payment, DSC, DIN, and E-filling. Sub-Category you have selected as per your requirement it will depend on the option you select from the above.
• After Submitting the cancellation application, the Compliant MCA will Revert you the Mail id in which you have to mail the Application along with the affidavit (If CRC asks for the same).

Things to keep in mind while applying for the withdrawal of Company name via “Cancellation of SRN”

• The signature of the person whose name is registered in a particular Login-id from which form or application is filed only valid in Application and affidavit if it is a company authorized person is required to sign the same.
• You can only cancel your SRNs that have G or E as prefixes. These SRNs are for eForms/ services and stamp duty payment. The link for cancellation of SRN is displayed only when SRN status is Not Paid or Pending for Payment.

Need to cancel the SRN for any other application? refer: “Cancellation of SRN“