Changes in LLP agreement

LLP agreement is a primary document for your LLP. You can amend your LLP agreement anytime in the future. 

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Changes in LLP agreement

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What is LLP?

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

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

Process

Documents Required

How can we help you?

FAQs

a. What is the amount payable for stamp duty to change LLP agreement?

A sum of Rs.100 is payable as stamp duty at the time of change in LLP agreement.

b. In an LLP of two designated partners, can a single partner change the LLP agreement by signing all the documents required?

For any change in LLP agreement, consent and signature of all the partners is mandatory.

c. For any change in LLP agreement, stamp paper to be brought in the name of the firm or partners?

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.

d. When will the change of the new LLP agreement be complete?

Once the approval from the Registrar is received, the LLP agreement will stand modified.

e. Amendments in LLP agreements are seen online or on portals?

No, LLP agreement is not public. Only change in name and capital is reflected online on the portal.

f. Still have doubts?

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