Change in LLP Agreements

Change in LLP Agreements Registration

  • INR 1000 /-
  • All Inclusive, No hidden Charges

Basic Plan

Limited Liability Partnership or famously known as LLP is a company where all partners have limited liabilities. Here, one partner is not responsible for other partners diligence or negligence. Due to its simplicity in functioning and limited liability to partners, it is one of the top choices for small and medium sized businesses . Agreement of the Limited Liability Partnership (LLP) is its charter, similar to Memorandum of Association and Articles of Association of a company. In the agreement, nature of business activities, rights, duties, and obligations of partners are mentioned.

Any change in the LLP agreement must be met with approval from the partners.

A resolution must be passed to state the same.

A form must be filed within 30 days of the amendment attaching the certified copy

The authorized personnel must duly sign the form.

No, the LLP agreement is not mandatory for all LLPs. However, certain provisions will automatically apply in the absence of an LLP agreement.

There is no standard format of an LLP agreement that fits all types of LLPs. Every LLP agreement is unique, although certain types of clauses of the agreement may remain similar in all LLP agreement.

There is no limit to the number of times an LLP agreement can be amended.

The legal minimum is 2 partners to execute a LLP agreement. However, if a large number of partners exist, it would be advisable to incorporate the company with 2 partners and add more partners post incorporation.