Sunday, 5 May 2013

LLP-Procedure for modification of LLP Agreement

~The Limited Liability Partnership Agreement is the charter of LLP. It lays down the scope and extent of operations of the LLP and also defines the mutual rights, duties, obligations of partners of LLP;

~The Partners of the LLP, if they so desire, in accordance with the provisions of the Limited Liability Partnership Act, 2008, can alter the LLP Agreement;

~In case any changes are proposed in the LLP Agreement the same must be intimated to the Registrar;

~The changes in the LLP Agreement must be intimated by filing (E-Form-3) with the following documents :

a). Certified true copy of the minutes of the meeting wherein the decision to make the change was taken.

~The form must be certified by the authorised signatory;

~The Form must be filed within a period of 30 days from the date of the change;

~The Registrar will take on record, necessary changes made in the LLP Agreement;

~In case of increase in capital contribution, additional fees for the increased capital has to be paid to the Registrar. The Form must be certified by a Practising Company Secretary, Practising Chartered accountant or a Practising CWA. 


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