Addition / deletion of Partnerss

Embrace the Power of Collaboration: Seamlessly Adding or Removing LLP Partners for Unstoppable Growth and Success

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Overview

Designated Partners

At least two individuals who are partners shall act as designated partners.

Identification Number

These partners must have a Designated Partner Identification Number and their names must feature in the LLP partner agreement.

Application

These are easy to apply and the compliances are lesser when compared to other types of company registrations.

Limit

There is no maximum limit on a number of partners.

No Restriction

There is also no restriction on joining and leaving an LLP. One can easily join or leave it.

Ownership

The ownership can also be transferred from one person to another without much difficulty.

Why changing Partner is required?

Hire new talent on board

With the growth of business, strategies and alliances are developed, that requires inputs of each department are required for effective planning. Also, with an addition of the new product line or department, an expert to lead the team can be hired in a managerial position being director of the company. This benefits the company with specialization and focused efforts.

Assign operational responsibility without dilution ownership

Directors are responsible for day-to-day operations. With the appointment of an additional director, the shareholders can assign the operational responsibilities to directors keeping strategic control in hand. Here, a director does not require subscribing to share capital, hence, the ownership and voting rights of shareholders does not dilute with a new person on Board.

Inability to work by existing Partner

The existing Partner may be unable to serve the company after a certain period due to retirement or other personal reasons. Whether it is a resignation by the director or his death, the company needs to make sure that its work is unaffected. It needs to process for both discontinuations by director and appointment of a new director if any.

Documents required for Addition or Removal of Partner

The Companies Act has prescribed the minimum number of directors in any company, which is 2 and 3 for Private and Public company respectively. At any time during the company’s existence, the number of directors shall not reduce below from the limit. The company must appoint a new director(s) within 6 months if the number reduces below 2/3.

Documents required

Photograph

PAN Card

Proof of Residence

Digital Signature Certificate

Fillings First

Change Partner in 3 Easy Steps

  • Pick a Package that best fits your requirements
  • Fill in our questionnaires that take less than 10 minutes
  • Provide basic details & documents required for registration
  • Make payment through secured payment gateways
  • Assigned Relationship Manager
  • Preparation of necessary documents
  • Preparation and filing of Application
  • Updated MCA master data with modified details
 
 

Fillings First

Process for addition or removal of Partner

  • Consultancy for requirement of change of directors
  • Collection of basic Information & documents
  • Application for DSC (for director to be appointed)
  • Drafting necessary resolutions and documents
  • Provide documents required provided after signature
  • Preparation of online application
  • Filing of application for changing directors
  • Sharing master data from MCA with updated information

Our Clients

Have Questions? Find Answers Here

To add a partner to an LLP, you need to follow these steps:

  • Obtain the consent of the existing partners.
  • Prepare the necessary documents, including a supplemental LLP agreement.
  • File the required forms with the Registrar of Companies (RoC).
  • Pay the applicable fees and complete the registration process.

Yes, a partner can be removed from an LLP. The removal can be voluntary or involuntary. Voluntary removal occurs when a partner resigns or transfers their interest, while involuntary removal can happen due to various reasons such as misconduct, incapacity, or breach of agreement.

The legal requirements for adding or removing LLP partners may include obtaining the consent of the existing partners, preparing necessary documents, filing forms with the RoC, and complying with any specific provisions mentioned in the LLP agreement.

The addition or removal of LLP partners can have a significant impact on the ownership and management structure of the LLP. New partners bring in additional capital, expertise, and decision-making power, while the removal of partners can lead to a redistribution of ownership and management responsibilities among the remaining partners.

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