LLP Agreement

The Limited Liability Partnership (LLP) Agreement, comparable to the Memorandum of Association and Articles of Association for a private limited business, is the charter of a Limited Liability Partnership company. It specifies the scope and extent of the LLP’s operations, as well as the partners’ rights, responsibilities, and obligations. It’s simple to change the agreement. All you have to do now is adopt a resolution approving the LLP agreement amendment. Within 30 days of the agreement’s revision, the second step is to file Form 3 with the Registrar.

Register a Company in 3 Easy Steps

Step 1

The partners must convene to pass a resolution approving the revisions to the draught LLP agreement that are required. This could be, for example, a shift in capital contribution

Step 2

Form-3 must be filed with the Registrar within 30 days after the resolution's passage.
3. The following information must be included on Form 3:
1. The date on which the LLP agreement was modified
2. The reason for the change in the LLP agreement sample – if it's because of:
a. A shift in a partner's personality (s)
a. A shift in business operations
c. Any change in a partner's
contribution and profit-sharing % d. Any other changes in the area of- Partners' responsibilities and rights Restrictions put on any or all of the partners' authority
The LLP's administration and management
a. The technique for convening and holding meetings;
b. Acts that require the consent of all or a defined number of partners. The indemnity clause's content
a. The associates' b. Acceptance c. Resignation d.Cessation e.Resignation and Termination Disputes and their settlement in relation to
a. The associates b. The LLP and the partner Winding down on one's own accord The LLP's duration
3. The business's potential actions after the change
4. The modification in the LLP agreement model has resulted in a division of industrial activities.
5. The contribution and profit-sharing percentages of the partners after the LLP agreement was changed.

Step 3

form 4 must be submitted to the Registrar (along with the Form-3), If the LLP agreement format changes as a result of a change in a partner(s) or designated partner (s). In the event of a partner's or designated partner's appointment, termination, or change in designation/name/address (s).

Document Required

Form 3 must be accompanied by the following documents.

  • LLP Agreement (Original)
  • LLP agreement that has been modified
  • Deed of Supplementation
  • The LLP Partners pass a resolution addressing the adjustments to be made at a meeting.
  • Any additional papers or documents that are necessary as proof

Form 4 must be accompanied by the following documents.

  • Each of the partners’ consents
  • Affidavit or other evidence of a name change
  • Evidence of abstinence
  • If one of the partners is a corporation, a copy of the resolution in this regard must be provided.
  • Copy of authorization/resolution stating the name and address of the individual(s) named as the partner/representative of the Partner/nominee.

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