Add a Partner
The law required an LLP to be represented by at least two designated partners.
Introduction
Partners of an LLP are the persons responsible for the functioning of the LLP. Every LLP should have a minimum of 2 partners and out of them, 2 shall act as designated partners who work on behalf of the partners and participate in the day-to-day activities.
In order to Add a partner to the LLP, such a person is required to obtain a Digital Signature Certificate (required for other mandatory filings at the MCA) and a Director Identification Number. DIN can be obtained for any person who is not a minor, without any requirements of nationality or domicile, NRIs and Foreign Nationals can also be appointed Designated Partners in Indian LLPs.
Necessary Documentation –
- DIN
- DSC
- Consent of the incoming partner
- Board Resolution
- Supplementary Partnership Deed
- Form 4 and Form 3
- Form 4A( if no. of partners are exceeding 200)
Requirements for adding a partner are tedious procedural steps and depend on the Partnership Agreement of the LLP, so leave the work of figuring them out to our experts by signing up for our Addition of Partner service today!
Rights & Duties of a Partner-
The partner of an LLP enjoys the following rights and must carry out the below-mentioned duties pursuant to their position –
- Every Partner has the duty to indemnify their LLP for any losses that may be caused due to the Partner’s fraudulent conduct whilst carrying out the firm’s business.
- Every Partner has the right to take part in the conduct of the firm’s business and to inspect its book of accounts.
- Every Partner has the authority to bind their LLP to transactions done in the ordinary course of business.
Click here to read more about "Change in LLP Agreements"
Registration Process-
- Upon signing up for our Add a Partner, our business experts will engage in consultations with you, and will review the Partnership deed in order to understand the relevant procedure and the eligibility criteria better;
- After successfully going through a consultation, our team will prepare a checklist helping you with the necessary steps and will draft the necessary documents such as the required Board Resolutions, etc.
- Once the necessary resolutions have been passed, our legal team would prepare the required documents for accepting the addition of the new partner and file the same with the ROC.
