Amend LLP Agreement

Amend LLP Agreement

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LLP can amend LLP agreement in accordance with the procedure in the LLP Agreement. Usually, the partners’ consent, either in writing or through a resolution passed at the partners’ meeting, is required to make change in the LLP agreement.

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    When to Amend LLP Agreement?

    LLP agreement is the agreement which determine the mutual rights and duties of the partners of an LLP and rights and duties in relation to the LLP. Situation may arise where partners required to amend LLP agreement to reflect present understanding. The following cases, usually LLP Agreement amendment required.

    1. Change in name of the LLP
    2. Change in activities of LLP
    3. Change in contribution
    4. Change in the LLP agreement to meet the requirements of Income tax Act
    5. Other changes such as voting rights, decision making, etc

    Requirements for amending LLP Agreement

    • General Requirements
      LLP Agreement: Copy of present LLP agreement for identifying the procedures to be adopted for LLP agreement amendment.
    • Consent of Partners: Partners consent accordance to LLP agreement.

    Documents Required

    Present LLP Agreement copy is only required for processing LLP Agreement amendment.

    Procedure to amend LLP Agreement

    LLP Agreement

    Understating present LLP agreement to adopt procedures to be followed for amending LLP Agreement. Usually partners consent required for effecting change either by written consent or resolution passed in the partners meeting.

    Consent of Partners

    Consent of Partners in writing or a resolution passed at the meeting of partners. Procedures provided in the LLP agreement must be complied with.

    Execution of Supplemental Agreement

    After getting consent of partners, a Supplemental Agreement must be executed on appropriate stamp paper for filing with the ROC.

    Filing with the ROC

    After executing the agreement, a copy of it must be filed in Form 3 with the Registrar of Companies.

    Pricing

    (All Inclusive)

    Amend LLP Agreement
    1,599.00 /

    • (All Inclusive Govt. Fees)
      (*Exclusive of government fees)

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