Alpha Ltd, during the regular audit, ascertained the following contraventions during the financial year 2018-19, which have not been rectified till date : (a) The annual returns and financial statements for the year ende

Rule 29 of the Companies (Incorporation) Rules, 2014 provides that the change of name shall not be allowed to a company which has not filed annual returns or financial statements due for filing with the registrar or which has failed to pay or repay matured deposits or debentures and interest thereon. The proviso to the rule states that the change of name shall be allowed upon filing necessary documents or payment or repayment of matured deposits or debentures or interest thereon, as the case may be. In the instant case, Alpha Ltd has defaulted in filing of annual returns and financial statements for the year ended March, 2018 with the Registrar and also the redemption of debentures which were due for redemption during March, 2019. Hence, in terms of the above referred rule 29 the company will be allowed to change its name from Alpha Limited to Gama Limited only after the ratification of such contraventions. However, non-filing of charge is not covered under the above referred rule 29 and hence the application for change of name can be proceeded with, even before filing for registration of the charge.