BANGALORE, August 17: The Registrar of Companies (ROC) will allow change of name to
companies to reflect the business of software only if a substantial portion of their
income is reflected in their audited accounts or accounts certified by a Charted
Accountant is derived from software business. If this is not proved, then a change of name
would not be allowed.
This follows the decision of the Government so that investors were not misled by the
strategy adopted by a few companies whose principal object was not computer software and
who had actually been involved in financing activities. Such companies have changed their
names to indicate as if they were in the business of computer software. For this purpose,
such companies have included words like Infosys, Software, Systems, Info-system,
Computers, Cyber, Cyberspare, etc. in their names only to dupe the gullible investors.