Mumbai, May 19: Jindal Vijayanagar Steel Ltd (JVSL) is changing its name to JSW Steel Ltd.

According to JVSL, the name change will align the company with the brand image that is being created under the JSW group and will also give it a separate and distinct identity.

JVSL will seek shareholders’ approval for the name change at the annual general meeting to be held on June 13. The JSW group is part of the OP Jindal group.

JVSL said a January 20 order by Karnataka High Court sanctioned the scheme of arrangement and amalgamation and further ordered that in view of clause 37 of the scheme, the name of the company shall be changed to Jindal Iron & Steel Company (Jisco) subject to the compliance of the provisions of the Companies Act, 1956.

JVSL, however, added that Section 21 of the act provides that a company may by special resolution and with the written approval of the Centre, change its name.

“In view of the proposal to change the name to JSW Steel Ltd, the company sought and obtained legal opinion to the effect that such change would be in order, if provisions of Section 21 of the act are complied with,” it said. JVSL also noted that the Registrar of Companies, Karnataka, has conveyed the availability of the name JSW Steel Ltd through a letter dated March 1.

In 2004-05, Jisco and Jindal South West Holdings Ltd were merged with JVSL.

After the merger, JVSL emerged as the third largest integrated steel manufacturer in the country after Steel Authority of India Ltd and Tata Steel at the close of 2004-05.

JVSL's decision to go in for a name change coincides with reports of it appointing the Lintas group as a full service agency for its corporate branding exercise.