Gaurav Kotwani (2 Points)
02 March 2024Greetings of the day to all Professionals and Students,
We have a LLP which have 2 designated partners and want to remove those partners and add 3 new partners, is it possible in a single supplemental deed or not and what is chronological process for it.
Thanks in advance for your kind help.
Regards
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 March 2024
Sharath chandra
(Accountant)
(1227 Points)
Replied 03 March 2024
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 March 2024
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 06 March 2024
To add or remove partners in an LLP, you’ll need to complete the necessary forms and follow the prescribed procedure. Here are the steps and forms involved:
Obtain Consent from Existing Partners:
Amend the LLP Agreement:
Application to the Ministry of Corporate Affairs (MCA):
To add or remove partners in an LLP, you'll need to complete the necessary forms and follow the prescribed procedure. Here are the steps and forms involved:
1. **Obtain Consent from Existing Partners**:
- Before proceeding, ensure that the existing partners agree to the proposed changes.
- Obtain their consent for adding new partners and removing the current designated partners.
2. **Amend the LLP Agreement**:
- Prepare a supplementary partnership deed reflecting the desired modifications:
- **Add New Partners**: Include the details of the three new partners.
- **Remove Existing Designated Partners**: Specify the removal of the current designated partners.
- Update the LLP Agreement to reflect the revised partnership structure.
3. **Application to the Ministry of Corporate Affairs (MCA)**:
- File the necessary forms with the MCA within **30 days** from the effective date of the changes.
- The forms required are **LLP Form 3** and **LLP Form 4**:
- **LLP Form 3**: Contains details of the changes, including the notice of resignation/removal (if applicable) and consent to act as a partner/designated partner.
- **LLP Form 4**: Filed for change in partners, containing a statement of consent and interest in other entities by the newly inducted partner and the resignation letter by the ceased partner (if applicable)².
Remember to consult legal professionals or company secretaries to ensure compliance with all legal requirements during this process. 📜🤝
Remember to consult legal professionals or company secretaries to ensure compliance with all legal requirements during this process. 📜🤝
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