Appointment of Designated Partner/Partner in LLP
Appointment of Designated Partner/Partner
₹
2,000/-*
₹
- Statutory Fees including additional fees or penalty in course of Filing of LLP Form 3 & 4 is not included in the above amount.
- Stamp Duty Payable on Supplementary Agreement is not included in above amount.
- Any advice given to the Client is only an opinion based on our knowledge of the Client’s particular circumstances.
- The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing.
- Fees Should be paid according to conversation held between the Legal Parivar Team and Client.
Appointment of Designated Partner/Partner
The Limited Liability Partnership (LLP) operates under the regulations outlined in the Limited Liability Partnership Act of 2008. In contemporary times, the LLP structure is becoming increasingly favored over Private or Limited Company forms of business due to its simplicity and reduced regulatory requirements.
For an LLP to exist, it is mandatory to have a minimum of two partners, among whom two must serve as designated partners responsible for representing the partners and engaging in daily operational activities. The appointment, removal, or substitution of a partner or designated partner is a flexible process once they have been initially designated.
Procedure To Add a Designated Partner/Partner:
The process begins with all existing partners of the LLP convening a meeting to pass a resolution for the inclusion of a designated partner in the partnership deed. Subsequently, a supplementary partnership deed will be formulated, incorporating the name of the new partner. Written consent from the incoming partner will be obtained.
Upon completion of these documents, Form – 4 of the LLP must be filed within 30 days from the appointment date. Following the submission of Form – 4, Form – 3, along with both the supplementary and original partnership deeds, will be filed within the same 30-day timeframe.
Once these forms are duly filed, the name of the designated partner will be added and reflected on the Ministry of Corporate Affairs website. Notably, a delayed submission of Form – 3 and Form – 4 beyond 30 days incurs an additional fee of Rs. 100/- per day for each form.