Process for Removal of Designated Partner
Documentation1 Working Day
All the required documents for removal of the designated director are collected and assessed by an appointed advisor and the partners of the LLP are advised on the any of the ways they have to carry out the removal process.
Pass CTC resolution1 Working Day
CTC resolution is prepared and the same is to be passed by the LLP partners by conducting a meeting with the existing partners involved in the removal of the designated partner. The resolution is then recorded and attached with the prescribed form.
Executing the Supplement Agreement1 working Day
Supplement LLP agreement is prepared by the appointed advisor and is to be signed by any one of the existing partners in the LLP firm to execute the change in the LLP.
Obtaining Approval2 to 3 Weeks
To bring an effect to the removal following application must be filed with the ROC with Form 4 within 30 days of giving the resignation. The removal must be with a certificate from CA or CS stating that the records found in the LLP are true and correct.
Documents Required for Remove a Designated Partner
Resignation letter from a designated partner
Supplementary LLP Agreement
DIN and DSC
DIN and DSC of an existing partner
LLP incorporation certificate
What do you get
A CTC resolution is a written document that provides a complete explanation of the actions that are carried out by the partners in an LLP. The CTC is necessary to be certified by a CA or CS.
Removal of designated director amounts to change in the existing LLP agreement and hence it is necessarily to record the said changes through obtaining approval on a supplementary LLP agreement.
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Frequently Asked Questions
In what circumstances can a director be removed from the LLP?
LLP partner in the following circumstances will automatically cease to be a partner:
- On dissolution of the LLP
- If the partner of the LLP is declared of unsound mind
- If the partner of an LLP is declared insolvent
- Resignation from the partnership in the LLP
Who is a designated partner in an LLP?
A designated partner in an LLP is a person that enjoys similar rights to that of a director in a private limited company. 2 or more partners in an LLP can be designated partner and they must be an Indian resident to be appointed as one.
What forms are required for removal of a designatedpartner in an LLP?
The removal of designated partners should be noted in the LLP agreement as well hence a person needs to file e-Form 3 along with Form – 4 so as to register changes in the LLP agreement.
What is the procedure to remove a partner from an LLP?
While removing a partner from an LLP following process is to be followed:
- Pass CTC resolution to affect the change
- Executing the supplement agreement for an LLP
- File an application with ROC for obtaining approval of the change
Is it mandatory to have a designated partner?
Yes, it is mandatory to have a minimum of 2 designated partner in an LLP. Failure to comply with the said provisions will lead to a penalty of Rs. 10,000. In case of the removal of a designated partner, the number goes bellow 2, remember to appoint a designated partner within 6 months of such removal.
What is the maximum number of a designated partner for an LLP?
An LLP can have a maximum of 200 designated partner appointed in an LLP; if the number of designated partner exceeds 200 an addendum should be filed along with e-form 4.
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