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Change in LLP Agreement

Need to modify the Limited Liability Partnership agreement? Clearbiz can help!
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    A change in the LLP Agreement involves making amendments to the existing agreement to reflect modifications in the terms, rights, and obligations of the partners.

    Process Flow:

    • Identify the changes required in the LLP Agreement.
    • Draft the necessary amendments.
    • Hold a meeting of the partners to discuss and approve the changes.
    • Execute the supplementary agreement or amendment to the LLP Agreement.
    • File Form 3 (LLP Agreement) with the RoC within 30 days of the change.
    • Pay the applicable filing fee and submit the necessary documents.
    • The RoC will review and process the filing, and upon successful approval, the LLP Agreement will be updated.

    FAQs on Change in LLP agreement

    Get answers to all your queries

    Get in touch with our team to obtain an complete checklist for documents required

    Ideally it would be filed and approved within 7-14 days

    Get your personalised quote today. Drop in a mail at info@clearbiz.in

    Such amendments if not initimated to ROC , is legally void and also delay in filing would result in late fees.

    No matter where your business is , we can take care of you. Book a call at 799 49 11151

    Easily make Changes to Your LLP Agreement with Expert Guidance

    Make  modifications to your LLP agreement  effortlessly with ClearBiz’s professional guidance

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    What is an LLP Partnership Agreement

    Let us understand what exactly is an LLP Agreement and its importance. An LLP Agreement is the bible document for the  LLP. It lists the partners, their rights, and responsibilities. It specifies the capital contribution and profit-sharing ratio

    Clauses for admission, retirement, and dispute resolution must also be clearly mentioned in the LLP Agreement

     

    Why Change an LLP Agreement?

    They are many resons , for bringing in modifications in an LLP Agreement. Some of them are

    • For amending the objects due to changes in business activities.
    • Adjusting partner composition  or profit sharing ratios.
    • Removing reductand clauses for ease of operation
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    Types of Changes in LLP Agreements

    Change in LLP Agreement can be changes to Object Clause, No of Partners (ie;admission of new partners or retirement of existing ones), Changes in Profit Sharing Ratios etc

    How can an LLP agreement be modified?

    Lets have a brief look at the steps involved in LLP Clause amendment

     

    1. Obtaining consensus among partners for amendments.
    2. Ensuring compliance with legal formalities.
    3. Filing of relevant Forms with ROC/MCA
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    Why Choose Our Expert Service for Changes in LLP Agreement?

    Clearbiz can help you provide the best professional service in this regard. We are a team of highy qualified Chartered Accountants and Company Secretaries, whose vast experience and knowledge can help your business in every step it takes 

     

    Our services are streamlined to ensure  compliance with Kerala’s legal requirements.Also we emphasise on clear communication with our cleints to ensure you are always updated

    We can assure you

    • Legal compliance and accuracy.
    • Time-saving streamlined processes.
    • Guidance on best practices for  all business compliances