LLP can admit new partner with the consent of other partners of the LLP and with the provision of LLP Act. As admitted partner should not be disqualified as a partner as per the provision of LLP Act. Rights and obligations of the admitted partner shall be determined by the LLP agreement.
A partner in an LLP may cease to be a partner in accordance with the LLP agreement. In the absence of any specific clause in the LLP agreement, a partner may voluntarily resign by providing notice of resignation in writing not less than 30 days to the other partners.
A partner in an LLP would automatically cease to be a partner in LLP in the event of death of a partner, dissolution of LLP, if the partner is declared to be of unsound mind / insolvent, applied to be adjudged as an insolvent.
The change in LLP agreement should be intimated to roc within 30 days
Yes. In case of change in the name or address of the partner the same must be intimated by the partner within a period of 15 days to the LLP. Failure to intimate shall be punishable with fine which shall not be less than Rs. 2,000/- but which may extend to Rs. 25,000/-
No. Even the Majority of the partners cannot remove any Partner in LLP unless the LLP agreement expressly provides such powers.
No, you needn’t to be available in person, change in partner process is online. A scanned copy of documents can be sent to us via mail, and we will handle the rest.