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As the recent trend shows, the Limited Liability Partnership or LLP is gaining popularity as compared Private or Limited Company. The LLP is a partnership firm where the responsibility of management and business rests on the shoulders of the partners of the company. A partner of an LLP is responsible for representing the vision and effecting the growth of the company.
Any LLP needs minimum of 2 partners out of which, it has to appoint minimum 2 designated partners according to the LLP Act, 2008. The designated partners participate in the daily proceedings of the company on behalf of all the partners. The addition, removal or change in designation of the partner does not affect the status of LLP but can affect the growth depending upon the ability of the partners.
The addition of partner to the LLP needs approval from the existing partners of the company and the Ministry of Corporate Affairs needs to notified regarding the addition/change of partner of the company. Jain Divya & Associates can help you prepare the necessary documents along with the required forms to file the notification to Add Partner to LLP. Get acquainted with the knowledge of different corporate compliances by scheduling a consulting session with Jain Divya & Associates.