Confused?

Get Clarity from an Expert for Only ₹199!

We Are Registered Under:-

LLP Agreement Change

An LLP Agreement is a crucial legal document that defines the rights, duties, and obligations of partners in a Limited Liability Partnership (LLP). Any modifications, such as profit-sharing changes, partner roles, capital contribution adjustments, or other structural updates, require an LLP Agreement Amendment and must be filed with the Registrar of Companies (ROC). Company Mitra ensures a seamless amendment process, handling all legal documentation and compliance requirements.

Requirement

Any changes in an LLP’s internal structure, such as partner details, capital, profit-sharing ratio, or decision-making authority, require an amendment to the LLP Agreement and submission of Form 3 to the ROC.

Benefits

Ensures legal compliance with the Limited Liability Partnership Act, 2008.
Avoids penalties for non-updation of agreement.
Allows smooth business restructuring with updated terms.
Provides transparency and clarity among partners.

Document Required

Existing LLP Agreement
Partners’ Resolution approving the amendment
Updated LLP Agreement with modifications
Consent of all partners
Digital Signature Certificate (DSC) of designated partners
Form 3 Filing Details

Professional Fees

~~₹7,000.00~~ ₹3,500.00

Additional Cost

Process time

⏳ The LLP Agreement Change process usually takes 7-10 working days after submission of all required documents.

Steps

⏬ Consultation: Discuss the required changes with Company Mitra.
⏬ Partners’ Resolution: Draft & pass a resolution approving the amendment.
⏬ Update LLP Agreement: Modify the agreement as per approved changes.
⏬ Filing of Form 3: Submit Form 3 to ROC for official approval.
⏬ Approval Confirmation: Receive ROC confirmation of the amendment.

FAQ

👉 When should an LLP Agreement be changed?
An LLP Agreement must be changed when there are modifications in partners, capital, profit-sharing ratio, or business structure.

👉 Is government approval required for an LLP Agreement amendment?
Yes, ROC approval is mandatory, and the changes must be filed using Form 3.

👉 What is Form 3 in LLP Agreement change?
Form 3 is an official filing document used to update the LLP Agreement with ROC.

👉 Do all partners need to agree on the amendment?
Yes, all partners must consent to the modifications before filing.

👉 How long does it take to change an LLP Agreement?
It takes 7-10 working days after document submission.

👉 Can an LLP operate without an updated agreement?
No, the LLP Agreement must reflect the latest changes to avoid legal disputes.

👉 Will the LLP Identification Number (LLPIN) change?
No, the LLPIN remains the same; only the agreement gets updated.

👉 What happens if an LLP does not update its agreement?
Non-compliance may lead to penalties and legal complications.

👉 Is a Digital Signature Certificate (DSC) required for filing Form 3?
Yes, DSC of designated partners is required for submission.

👉 Can Company Mitra handle the LLP Agreement Change process?
Yes, Company Mitra takes care of end-to-end filing and compliance.

👉 Do banks and tax authorities need to be informed about changes?
Yes, LLPs should update banks, GST, and tax authorities if required.

Compliances

✅ Compliance

📌 Compliance Requirement	📅 Due Date	📖 Remarks
📜 Partners’ Resolution for Amendment	Before filing Form 3 📆	Required to initiate the process
📑 Update LLP Agreement	After partners’ approval 📌	Must reflect the changes
📊 Filing of Form 3	Within 30 days of change 📤	Mandatory for ROC approval
📝 Notify Stakeholders	After ROC approval 📌	Update banks, GST, and business records if necessary

Penalties

⚠️ Penalty & Interest

🚨 Non-Compliance Issue	❌ Penalty & Interest	⚖️ Consequences
📑 Failure to File Form 3	₹100 per day 🏦	Until compliance is met
📝 Not Updating LLP Agreement	₹5,000 fine 🚔	May cause legal disputes
📊 Incorrect Information in ROC Records	Legal action 🏛️	ROC may reject filings & future compliance
💰 Failure to Notify Banks & Tax Authorities	Operational disruptions 🏦	Banking & tax compliance issues