ADD OR REMOVE PARTNER

ABOUT ADD OR REMOVE PARTNER

A limited liability partnership is a hybrid of  a partnership and a corporate form of business. An LLP must have at least two partners under the Limited Liability Partnership Act of 2008. LLP  partners  are responsible for day-to-day management. Unlike regular partnerships, LLPs can add or remove these partners and these changes will not affect the organization's existence  as it is a separate organization. Such  partnership changes must be approved by the  Corporate Affairs Department and are subject to the Limited Liability Partnership Act of 2008 and its rules, as well as the provisions of the LLP Agreement. The procedure to add a partner is as follows. Get a Digital Signature Certificate (DSC) receive the director's identification number; When deciding to select a partner, enter into additional agreements with the LLP; Obtain consent from the proposed Designated Partner on Form 9. notice to the Registrar via Forms 3 and 4; Exclusion or withdrawal of a Partner from the LLP may occur only  in accordance with the provisions of the LLP Agreement. However, if there is no description for this, you must make the necessary corrections. These changes require that the LLP Supplemental Agreement be submitted to the MCA in a specific format along with the required documentation and fees.

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