An Overview of Changes to LLP Agreement

The constitution or the policy of Limited Liability Partnership (LLP) is the Limited Liability Partnership Agreement. It helps the LLP define the extent and the scope of all the LLP operations, along with it also gives guidelines about the rights, obligations and duties of all the
partners. Therefore, LLP Agreement is an important document that regulates the duties, administration, and management between the Limited Liability Partnership partners. The Limited Liability Partnership Agreement has to be registered with the Registrar of Companies (RoC) and post 30 days of incorporation; the document must be registered with the Ministry of Corporate Affairs (MCA).

With multiple partners involved in the LLP business structure, it is evident that things might not always work out between them or the regulations need some tweaks to make the entity more profitable. Because of some of the reasons, it is imperative to make changes in the LLP agreement.

At Taxrepair, we provide our clients with hassle-free and comprehensive changes in the LLP Agreement that is dealt with by our highly qualified professionals.

Document Required for Changes to LLP Agreement

Documents to be attached with Form 3

• Original Limited Liability Partnership Agreement
• Modified Limited Liability Partnership Agreement
• Supplementary Deed
• Resolution of the Board regarding the changes to be made, which is passed in a meeting by the Limited Liability Partnership Partners
• Any other supplementary forms or documents required as proof

Documents to be attached with Form 4

• Documents showing the consents of each of the partners of the Limited Liability Partnership
• An affidavit or other proof for changing the name
• Evidence of termination or cessation
• If any of the designated partners is a company, a copy of the resolution has to be given by the company to become the partner of the Limited Liability Partnership.
• Copy of authorisation/resolution letter citing the name and address of person/s nominated as a representative of the partner/nominee has to be submitted.

Types of Changes that can be Executed in an LLP Agreement

• When a change in the name of the Limited Liability Partnership entity is proposed, and a resolution is passed on the same
• Change of activities of the Limited Liability Partnership
• Change in the contribution, rights and duties of the Limited Liability Partnership
• Any necessary Amendment in the Limited Liability Partnership Agreement
• Change in registered address, profit sharing ratio, the contribution of the partners and many more such items.
• Winding up/shut down/dissolved/defunctioning of the Limited Liability Partnership.

Timelines of Changes to LLP Agreement

Our team of experts and our network of professionals has helped us serve clients efficiently and effectively. We at Taxrepair believe in giving our clients quality services while filing for the changes in the Limited Liability Partnership Agreement. Our team ensures that you get a seamless and smooth interaction with the concerned professionals and make timely delivery of the filing process.

Give our team of experts at Taxrepair a call or write to us to understand more about the process and procedures of changing the Limited Liability Partnership Agreement.