@2,999 Having Trouble with Designated Partner, Here is the Way out
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Documents Required for Removing a Designated Partner


 

Removing a Designated Partner requires 4 Simple Documents

LLP Agreement
Name of the Partner for Resignation/Removal
New Profit Sharing Ratio
Existing DSC of the Partner
 

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Remove a Designated Partner Information


  Power should be given in the Agreement.
  Designated Partner can be removed by Majority of Partners.
  Form must be filed within 30 days of Majority Decision.
  All records must be Validated by a Charted Accountant.

If Partner himself wants to Resign:-

 
  Designated Partner should give 30 days Notice before Resignation.
  Resignation must be accepted by all the existing Partner.
  All Balance & Debts have to settled as Per Agreement.
 
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If you are not satisfied for any reason, we will refund your money minus the Government fees. No questions asked

  

Procedure To Remove a Designated Director


3 Working Days

In case of Removing a Designated Partner/Partner is simply required to get an Consent/Resignation Letter from the Resigning Partner & same should be submitted in the form LLP 4 & it's include change in profit sharing Ratio of the LLP.

 

4 Working Days

LLP agreement should be alter in a way to change the Name of Resigning Partner with the New Partner Comes in his place & the same should be submitted in the Form LLP 3

 

How long does it take?


Application FILING
1-3 Working Days
 
We check your Documents and file the required forms with Registrar of Companies
Process Completion
4-7 Days
 
Once the Application is filed with the Registrar of Companies the Designated Partner is added in the Company

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Frequently Asked Questions


Is there any limit on the number of partners required to incorporate a Limited Liability Partnership?

A minimum of “two” partners with no maximum limit are required to incorporate a Limited Liability Partnership.

What will be the obligation of a partner in case he changes his name or address?

Every partner shall inform the LLP of any change in his name or address within a period of fifteen days of such change. The LLP, in turn, would be under obligation to file such details with the Registrar within thirty days of such change in Form 4.

In what circumstances an individual is disqualified to become a partner?

Any individual or body corporate may be a partner in a LLP. However an individual shall not be capable of becoming a partner of a LLP, if—

  1. he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force;
  2. he is an undischarged insolvent; or
  3. he has applied to be adjudicated as an insolvent and his application is pending.

Whether a body corporate may be a partner of an LLP?

Yes. A body corporate is an artificial person, can become a partner. Partners are persons (whether natural or artificial) who have subscribed their name to the incorporation document and further any new person can be admitted to the LLP as per the provisions of LLP Agreement.

Who are “Designated Partners”?

It is mandatory for all LLP’s to have at least two “Designated Partners”. “Designated Partners” are accountable for regulatory and legal compliances, besides their limited liability which is limited to their capital contribution.

Can the number of designated partners who are a resident of India not be more than partners from outside India?

Yes, the number of designated partners can be more than that in India. Make sure that at last one of the partners is a resident of India.