Changes in LLP agreement
Do you wish to alter your LLP agreement?
The LLP agreement is a crucial document for your limited liability partnership.
Contact one of our advisors to make a customized LLP agreement for you!
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Need changes in your LLP agreement?
What is LLP?
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A Limited Liability Partnership (LLP) is a business type where the liability of the partner is limited. LLP has a different legal status. Each partner is protected from their liability; also protected by the joint liability created by the other partner’s wrong business decision or misconduct. LLP Registration is ruled under the Limited Liability Partnership Act, 2008 and a separate LLP agreement has to be filed. LLP’s are required to be registered with the ROC.
Table Of Contents
An Overview
LLP agreement is the primary document that rules the LLP. The way a LLP works is dependent on the LLP agreement. The partners have to follow all the rules and regulations mentioned in the contract. After incorporation, the partners can change the agreement any time by mutual understanding. LLP agreement is not a public document which is shared with all. For any change in the agreement, consent from all the designated partners is mandatory.
Reasons for change in LLP agreement
- Change in partners
- Change in the name of LLP
- Change in rights and duties
- Change in contribution of the LLP
- Change in business activities
- Change in registered address
- Change in profit-sharing ratio
- Other changes in the LLP agreement
- Winding up or dissolution
Process
- Step 1 - Pass resolution
- Step 2 - Draft new LLP agreement
- Step 3 - File Form 3 along with Form 4 within 30 days with the Registrar
Related read: How To Choose Between A Private Ltd. Company And LLP?
Documents Required
- Digital Signature of an authorised partner
- Limited Liability Partnership Agreement (Original, Modified and supplementary)
- Certificate of Incorporation
- PAN card of the LLP
How can we help you?
- Submit a service request by clicking here
- Our team will be there with you, to understand the necessary details about the business and provide you with a simple checklist
- Once you fill-up the checklist and provide us with the required documents, our team shall verify them
- We shall prepare the form and the required documents
- In case of any query(s) from the department, our experts shall respond to them on your behalf
- Once the application is accepted, we shall provide you with the acknowledgement or proof
- Throughout the process our compliance manager will keep you updated
FAQs
A sum of Rs.100 is payable as stamp duty at the time of change in LLP agreement.
For any change in LLP agreement, consent and signature of all the partners is mandatory.
For an LLP agreement in India, the stamp paper should be brought in the name of the firm
and should include the signature of all the partners.
Once the approval from the Registrar is received, the LLP agreement will stand modified.
No, LLP agreement is not public. Only change in name and capital is reflected online on the portal.
Speak to our experts who shall solve all your doubts.
Call us at +91 7738 066 334 or Mail us at info@indiacompanyincorporation.com
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