Partners Change of LLP

Add or remove partners quickly and easily.

Let us help you with change in your partners.

₹ 1999 + Actual govt fees
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Our Formation Packages

Resignation of Designated Partner/ partner Addition of Designated Partner Designated partner addition and removal
₹1,999+GST
+ Additional Govt Fees
₹2,499+GST
+ Additional Govt Fees
₹3,999+GST
+ Additional Govt Fees
Preparation of Documentation
We will prepare all the documents and draft the resolutions
Preparation of Forms
We will prepare DIR 12
Submission of Final Forms
Submit it in Ministry website
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What is partner change in LLP?

Partner change means to appoint new partner or designated partner in the LLP and to resign the existing partner from the LLP.

Why we need to change Partners?

The change in designation of Partners can also be necessary during furtherance of Business. New partner can also be introduced, to contribute new capital in the LLP or to take the benefits of the professional services from the partners. Sometimes partner bring their goodwill that will increase the business of the LLP.

How to change in Partners and Designated Partner in LLP..?

As per Section 22 of LLP Act, 2008 on the incorporation of a LLP, the persons who subscribed their names to the incorporation document shall become its partners. A person can be admitted as partner in LLP as per the provisions of LLP agreement of the LLP and section 22 of LLP Act, 2008. If agreement is silent then partner shall be appointed as per Schedule I and need consent of all the Partners.

Who can become a the Partner in LLP?

Any individual or body corporate may be a partner in a LLP. However an individual shall not be capable of becoming a partner of a LLP, if—

He has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force.
He is an undischarged insolvent; or
He has applied to be adjudicated as an insolvent and his application is pending.

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Documents Required For Partners Change of LLP

Proprietor

  • PAN (Permanent Account Number) of all proposed directors (Self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed Directors. (Self attested)
  • Latest passport size Photographs of all directors.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 Month (Self attested)

One Person Company

  • PAN (Permanent Account Number) of all proposed Share Holders (self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed ShareHolders (Self attested)
  • Latest passport size Photographs of all Share Holders.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 month (Self attested)

Private Limited

  • Electricity Bill along with Rent Agreement OR Ownership proof and NOC

Public Limited

  • INC 14
  • INC 15
  • Projected Income and Expenditure Account
  • Grounds for making application

Partnership Firm

LLP

NGO

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Infusion of New Capital

Adding/removing a director can add a fresh perspevtive to the company. The new partner may bring new capital or his expertise for the LLP. Admission of a partner not only benefits in form of capital but also leverages the skills and knowledge.

Inability of Existing Partners

In certain cases the existing partner of the Limited Liability Partnership may not be able to contribute full time after a certain period due to retirement or any other reasons. Although the exit of one partner may not affect the existence of LLP, it must be dealt with by intimation to MCA.

Number of the Designated Partner falls below the statutory limits.

As per the Limited Liability Partnership Act, 2008 every LLP shall have a minimum 2 Designated Partners all the time. If the case of resignation arises due to one of the designated partner as a result the total number of the designated partners falls below 2, the LLP is required to appoint a new designated Partner or to change the position of any other existing partner.

Reasons for change in Partner in LLP.

Requirement to invest capital in LLP;
Change of responsibilities or engagements of the Partner(s);
Disability to perform to reach the expectations laid down under LLP Agreement or by Partners;
Change of terms of agreement between Partners and LLP;
Resignation and retirement of the Partner;
Requirement to appoint expertise in specific field of operations of LLP.

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Frequently asked questions

How can a new partner bring its contribution in the LLP?

He can bring its contribution either in cash or in kind.

What is the validity of the DPIN/DIN?

It is valid until the individual surrenders his DIN himself or it is revoked by the Competent Authority.

Do I need to have a DPIN/DIN for being appointed as partner in the LLP?

No. We do not require any DPIN/DIN for being appointed as partner in the LLP as the Pan Number of the Partner would suffice.

Who need to sign the supplementary agreement?

Existing Partner and as well as new partner shall sign supplementary agreement.

What are the documents require for partners change?

For Admission of new partner, Consent to act as partner, Resolution/Minutes of the Partner meeting for the appointment of the new partner, Supplementary Agreement For cessation of partner, Resignation letter is required.

Whether the LLP Agreement is to be updated to add or remove the partner in the LLP

Yes, the LLP agreement must be modified with terms of addition and removal of the partner by execution of supplementary deed.

When the Supplementary deed shall be filed with MCA..?

The supplementary deed must be filed within 30 days from the effective date of the change or form the date of execution (Whichever is earlier). Delay in filing will levies a penalty of Rs. 100 per day.

What is the difference between partner and designated partners ..?

The essential difference between both types of partners is the accountability. Where the partner is responsible only for acts and omissions by himself, the Designated Partners are additionally responsible towards compliance and operational matters of the LLP, including penal provisions.

What should I do if other partner has resigned and I am the only one left Now..?

The LLP must appoint a new designated partner within 6 months from effective date. However, in case the LLP already has another partner, the status of such a partner can be changed to Designated Partner.

What are the pre-requisite for admission of a Partner in the LLP

For addition of Partner in the LLP, the consent of the proposed Partner shall be accorded in the prescribed Form. Where the person is to be added as a Designated Partner, he/she must procure a Digital Signature Certificate (DSC) to obtain Director Identification Number (DIN).

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