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Partners Changes/partners Details Change

Partners Changes/partners Details Change

A Limited Liability Partnership (LLP) is governed as per the rules of Limited Liability Partnership Act, 2008. Every LLP should have a minimum of two partners and out of them; two shall act as designated partners. To addition or removal a partner from LLP, the consent of other partners must be obtained, which is followed by a change in the LLP Agreement and application to MCA to approve the changes. The application to MCA must be filed within 30 days of effective date of the change.

Team MNC will assist you in the addition of Deletion of Partners /Designated partners at a very nominal price.  

  • Requirement to invest capital in LLP
  • Change of responsibilities or engagements of the Partner(s)
  • Disability to perform to reach the expectations laid down under LLP Agreement or by Partners
  • Change of terms of agreement between Partners and LLP
  • Resignation and retirement of the Partner
  • Requirement to appoint expertise in specific field of operations of LLP
  • On the death of the Partner
  • On the dissolution of the LLP
  • If the Partner is declared to be of unsound mind
  • If the Partner is adjusted as an insolvent or declared as insolvent
  • Any other reason may be.
  • Photograph
  • Pan card self attested
  • Residence proof self attested
  • DSC of the continuing partner
  • Appointment letter
  • Consent to act as partner or designated partner.
  • Copy of the minutes of the decision/ resolution/ consent of the partners authorizing person to act partner designated partner in case of company or LLP as LLP Agreement.
  
1) File form-4
[With in 30 days of such change]
(ATTACHMENT)
– Consent of new partners.
– Copy of Resolution of LLP/ Consent of Partners authorizing person to act partner designated partner.
2)In case change in LLP agreement is due to change in partners/ designated partner, Form 4 has to be filed along with Form 3.
3) Execute supplementary agreementPrepare the Addendum of Original LLP Agreement to give effect of admission of new partner.
4) File form LLP-3(ATTACHMENT)
– Supplementary Agreement
  • DSC of the continuing partner
  • Resignation/Cession Letter
  • Copy of the minutes of the Decision/ Resolution/ Resignation of the partners.
  
1) A Partner of LLP may resign uponDue to any reason by giving a Notice in writing of not less than thirty days to other partner of his intention to resign as partner.
Resignation of partner or designated partner (Form-13).
2) File form-4
[With in 30 days of such change]
(ATTACHMENT)
– Resignation Letter.
3) In case change in LLP agreement is due to change in partners/ designated partner, Form 4 has to be filed along with Form 3.
4) Execute supplementary agreementPrepare the Addendum of Original LLP Agreement to give effect of Resignation of partner.
5) File form LLP-3(ATTACHMENT)
– Supplementary Agreement