Can a name be reserved? What is the procedure?

If through inadvertence or otherwise, a company on its first registration or on its registration by a new name or new translated name is registered by a name or a translated name which in any way contravenes the naming requirements, then the company may, with the sanction of the Registrar, change its name or its translated name as the case may be and shall, if the Registrar so directs, change its name or translated name within six weeks of the date of such direction or within a such longer period as the Registrar may think fit.

The cost for the change of name is usually waived by the Registrar in this case.