Add or Remove a Partner
As per the requirements a partner may be required to be added into the LLP or sometimes there might be cases that a partner is going outside.
Add or Remove a Partner of the LLP
Add or remove a partner of the LLP for ₹2,490/- Only (Inclusive of Government Fees and taxes)
The LLP partners are in charge of carrying out the LLP business. Minimum 2 individuals are required to act the designated partners. These partners must have the Designated Partner Identification Number. To add a Partner to the LLP, you must get a digital signature certificate (DSC) and the Director Identification Number (DIN). DIN can be obtained for any person over the age of 18 years. The DIN applicant’s nationality or residence status is not relevant. Therefore, Indian Nationals, Non-Resident Indians or foreign nationals can acquire a DIN and be named as partner in a LLP.
Note Down The Documents Required To Appoint A Designated Partner
- PAN Card or Passport (in case of foreign nationals)
- Aadhaar Card of Directors
- Voter’s ID/Driving License/Passport
- Latest Bank Statement/Telephone or Mobile Bill/Electricity Bill or Gas Bill
- Passport Size Photographs of promoters/Directors
Features to Add or Remove a Partner
There may be the requirement in your Business to add a new partner or there might be the cases where a partner is going outside. The Partner must have a Designated Partner Identification Number and his/her name must feature in the LLP agreement. We at TaxRodo help you to easily perform all the procedures:
- DPIN for new Partner – We at TaxRodo provide expert assistance for getting the DPIN for the new Partner.
- Resolution Draft Drafting – Our team will prepare all the Documents required for Addition or Removal of Partner.
FAQs of Add or Remove a Partner
Every Designated Partner would be required to obtain a “Designated Partner’s Identification Number” (DPIN) on the lines similar to “Director’s Identification Number” (DIN) required in case of directors of companies.
Persons, who subscribed to the “Incorporation Document” at the time of incorporation of LLP, shall be partners of LLP. Subsequent to incorporation, new partners can be admitted in the LLP as per conditions and requirements of LLP Agreement.
A person may cease to be a partner in accordance with the agreement or in the absence of agreement, by giving 30 days notice to the other partners. Notice is required to be given to ROC when a person becomes or ceases to be partner or for any change in partners.
The LLP Agreement shall be amended by way of entering into a Supplementary Deed. The LLP Agreement shall provide the details of changes including the additional capital introduced, new profit sharing ratio and any other insertion or deletion of clauses in the original LLP Agreement. The Supplementary deed shall be filed with the MCA within 30 days of the date of execution.
The stamp duty shall be paid according to the added capital in the LLP as per the rate prescribed by the respective state.
DIN (Director Identification Number) is a unique number assigned by the Ministry of Corporate Affairs to Individuals on application made, which allows any individual to be a Director in any Company or Designated Partner in LLP. The DIN is permanently allotted and can be used for subsequent appointment in another company/LLP.
The rights and liabilities of the new partner(s) will be governed by the LLP Agreement and Supplementary Deed of the LLP. Where there are no specific rights/liabilities prescribed or altered in the Supplementary Deed, the rights and liabilities will be same as prescribed in the original LLP Agreement.
In order to resign from the LLP, the Partner shall intimate about the intention to resign to the LLP and remaining partners. At least 30 day notice is required to be served by the resigning Partner for the stated purpose.