Frequently Asked Questions
What is Procedure for conversion of LLP into a Private Limited company?
A LLP can propose to change its name due to change in main objective or change in Business itself, the name can also be changed if there is objection from any other company and Registrar of company has directed to change name of LLP. The Procedure to change name is as follow
– An Notice need to be sent to all partner for intended change
– Get the MOA & AOA drafted
– File Required form in ROC
What is Procedure to appoint a new partner in a limited liability Partnership?
Following steps need to be taken to appoint a new Partner
- Get details of DIN of appointed Partner OR Get signature on DIN and DSC form if no DIN is allotted earlier
- Draft appointment letter
- Draft Addendum Partnership deed
- File required ROC form
What is Procedure for Partner’s resignation?
E-forms to be filed in case Resignation of Partner’s Resignation is resignation letter from partner. Amendment in partnership deed.
- Notice of Resignation filed with the Partnership firm (Resignation Letter);
- Proof of Dispatch of resignation (Speed Post Acknowledgements or Courier slip);
- ROC form filing
What is the time period to intimate changes for ROC?
That depends procedure to procedure, starting from 15 days to 30 days, as a thumb rule any significant changes should be intimated a.s.a.p.
What will be consequences in changes are not intimated to ROC?
There is a strict timeline to file forms to intimate the changes, if the changes are not reported then penalty need to be paid at the time of form filing.
What is Procedure to do amendments/Changes in partnership Deed of LLP?
Following steps need to be taken while filing for amendments in partnership deed of LLP
- Notice to all partners for intended changes.
- Drafting Partnership Deed and taking approval.
- Incorporating changes in Final addendum of Partnership.
- Filing requisites form to ROC and getting approval.
Under what situations Limited Liability partnership deed Amendments required?
Partnership deed of LLP needs to be amended in case
- There is any change in business objective,
- Change in Address,
- Change in Partners capital.
- Change in Other Objectives of LLP.
- Change in name of company
- Any other required changes in LLP
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