Change of Partners of LLP

Change partners of LLP starting from ₹ 2,999/-

Execution of Supplementary Deed

Filing within 30 days of change

Simple & Secure Online Process

Get the Partners Change in 7-10 days

Get Started By paying Rs. 2,999/-

Introduction

A Limited Liability Partnership (LLP) is managed by its partners who look after its operations as well as directs the LLP towards accomplishment of its goals and vision. The status of the Limited Liability Partnership is not affected by the addition or exit of a partner; but impacts the growth of the business and responsibilities of other partners. The change in the details of partners can be changed only after the approval from the Ministry of Corporate Affairs.

In order to add or remove a partner from Limited Liability Partnership, the consent of other partners is required to be obtained, and the respective changes should be made in the LLP Agreement. The application to the Ministry of Corporate Affairs is to be filed within 30 days from the effective date of the change.

Sprinthub Solutions has a team of experts providing you with the best assistance, timely delivery and guaranteeing the highest customer satisfaction with respect to change in partner of LLP. You may get in touch with our team on 096436-69475 or email info@sprinthub.in

Need of Change in Partners of LLP

Infusion of Additional or Expertise Capital

Generally, a partner is appointed either for his/her expertise or need of capital. As the partner in LLP increases the capital also increases henceforth the borrowing power of the firm with loan opportunities. The Admission of a partner leverages the skills and knowledge. The diversity of knowledge and goodwill base helps the business to grow.

Change In Terms Of Partnership

Sometimes the changes in the Agreement might affect the willingness of one or other partner. According to which the requirement or need of both addition or removal of a partner may arise.

Inability of the existing Partner

In certain cases the existing partner of the Limited Liability Partnership may not be able to contribute full time after a certain period due to retirement or any other reasons. Although the exit of one partner may not affect the existence of LLP, it must be dealt with by intimation to MCA.

Number of the Designated Partner falls below the statutory limits

As per the Limited Liability Partnership Act, 2008 every LLP shall have a minimum 2 Designated Partners all the time. If the case of resignation arises due to one of the designated partners as a result the total number of the designated partners falls below 2, the LLP is required to appoint a new designated Partner or to change the position of any other existing partner.

Documents Required for Change in Partner

Appointment of Designated Partner

Passport size photograph of the partner;

Self-attested copy of Proof of Identity (Driving License/Voter ID Card/Passport) of the Partner;

Self-attested copy of PAN Card of partner

Digital Signature Certificate;

Resignation of Partner

LLP Agreement

Digital Signature Certificate (DSC)

Resignation Letter (Format will be provided by us)

Process of Addition or Removal of Partner

Complete the Application Form

You are requested to first fill the simple questionnaire provided by our expert team.

Application of DSC

First of all DSC (Digital Signature Certificate consisting of the E-signatures) is required to be prepared. This step can be ignored if prepared already. It will approximately take 1-2 days.

Approval from the Ministry of Corporate Affairs

Lastly, after the approval of an e-form is received from the ROC which will be provided through e-mail which signifies that the respective changes have been made in change of the Partners of the Limited Liability Partnership

Document Processing

At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.

Preparation and e-form Filing the same with ROC

After arranging the documents we will begin with the filing of an e-form for the change in the Partner of Limited Liability Partnership along with the requisite documents on the Portal of Ministry of Corporate Affairs thereby informing the ROC regarding the change

Increase Capital of Company starting from ₹ 2,999/-

Professional Consultation

Filing of E-Forms with ROC

Digital Signature Certificate

Drafting of Documents

Designated Partner Identification No.

Supplementary LLP Agreement

More Insights on Change in Partners of LLP

If the Designated Partner already have a DIN then a new DPIN is not required

An individual willing to become a designated partner in any limited liability partnership shall give his consent to act as designated partner to the limited liability partnership in such form and manner as may be prescribed.

A former partner of a LLP shall not have any right to interfere in the management of the limited liability partnership after his removal.

A foreign national can also be appointed as partner or Designated Partner in the Limited Liability Partnership.

The appointment and resignation of designated partner in the LLP shall be effectuated by filing LLP Form 3 and 4 whereby the supplemental agreement will be drafted for adding or removing and partner and the profit and capital contribution shall be reconsidered.