K M Gatecha & Co LLP

• Replying to queries generated, Common changes in an LLP agreement:
• Changes in objectives of LLP,
• Change in Registered office address (within the jurisdiction of ROC),
• Change in Registered office from one jurisdiction to another,
• Change in address of Registered office from one state to another,
• Transfer of partner rights in case of death of partner,
• Change in profit and loss sharing ratio,
• Resignation or removal of partner,
• General changes in LLP agreement

Documents required for changes in LLP agreement:

• Details of modifications to be made in LLP agreement,
• Resolution passed at meeting of LLP partners,
• Consent of Partners (individual),
• Copy of authorization or resolution with name and address proof,
• Supporting documents for name change,
• Documents required for: Form 3, Form 4
• Note: Copy of resolution is mandatory in case where a corporation is an LLP partner

Process of changes in LLP agreement:

• Passing of resolution in meeting of LLP partners,
• Form 3 is to be filled with Registrar of Companies (ROC) within 30 days of passing the resolution, and the following details must be mentioned in form 3: Date of modification in agreement, Reason for change in agreement, Rights and duties of partners Management of LLP, Details of indemnity clause, Resolution of disputes, Duration of LLP, Details regarding voluntary winding up (if applicable), Details regarding addition, expulsion, removal, retirement, or resignation of partner, Details regarding any other clauses related to agreement, Details of changes in contributions and profit-sharing ratio of partners, Details of change in business activities, Industrial activities as per NIC-2004
• Date of modification in agreement,
• Reason for change in agreement,
• Rights and duties of partners
• Details of indemnity clause,
• Details regarding voluntary winding up (if applicable),
• Details regarding addition, expulsion, removal, retirement, or resignation of partner,
• Details regarding any other clauses related to agreement,
• Details of changes in contributions and profit-sharing ratio of partners,