Thursday, 2 May 2013

LLP-Procedure for Admission of Partner

~ An individual can be admitted to become a partner to the LLP with the consent of existing other partners  of the LLP and in accordance with the provisions of (section 25) of Limited Liability Partnership Act, 2008.


~The rights and obligations of the admitted partner shall be in accordance with the agreement entered into, with the LLP and its other partners.

~LLP shall be required to (E-Form 4) of LLP Rules 2009, with Ministry of Corporate Affairs on www.llp.gov.in. with the following attachments :Consent to act as a partner. The Form must be duly certified by certifying authorities as specified in the form.

~This form shall be filed within 30 days of the admission of the new partner.

~The form shall be accompanied by such fees as may be prescribed.

~The aforesaid provisions are dealt by Section 25 of Limited Liability Partnership Act, 2008. In case of change in the name or address of the partner, the same must be intimated by the partner within a period of 15 days to the LLP. 

~In case the partner fails to give such intimation, he shall be punishable with fine, which shall not be less than Rs. 2,000/- but which may extend to Rs. 25,000/-    

~In case where intimation of admission of partner is not given by the LLP, the Limited Liability Partnership and every designated partner of the limited liability partnership shall be punishable with fine which shall not be less than Rs. 2,000/- but which may extend to Rs. 25,000/-   


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