Basic Details

A Limited Liability Partnership (LLP) is a unique partnership formed by two or more partners with limited liabilities. Such an entity it must be registered in accordance with the Ministry of Corporate Affairs’ compliance and regulatory norms (MCA). The Limited Liability Partnership Act of 2008 governs the LLP Agreement which is a document that governs the rights, duties, and administration of the LLP’s partners. This document is filed with the Registrar of Companies, and it must be registered with the MCA within 30 days of incorporation.
 

What Kinds of Changes Can Be Made to the LLP Agreement?

Change to the name and activity of LLP
Change to the contribution, rights and duties of the partners of an LLP
Change to the registered address, profit sharing ratio, contribution
Changes in lieu of winding up/shutting down/dissolving of the  LLP

What Kinds of Changes Can Be Made to the LLP Agreement?

Change to the name and activity of LLP
Change to the contribution, rights and duties of the partners of an LLP
Change to the registered address, profit sharing ratio, contribution
Changes in lieu of winding up/shutting down/dissolving of the  LLP

Reasons for Changing an LLP Agreement:

When there is a change in the business activities
The Contribution of Capital is changed by partners in LLP
By adding Capital
By reducing Capital
By changing the ratio of capital contribution
When there is a change in the management structure of capital
When there is a change in the terms and conditions for addition, resignation, expulsion or the retirement of the partners engaged in the LLP
When the rights and liabilities of partners are modified 
When there is a need for the addition or reduction of a clause
 

Steps for making Amendments in LLP Agreement:

Before the registration and form-filling process, the steps that need to be taken are as follows:
The first step in amending the LLP is to hold a meeting of the partners and obtain the permission of all parties involved. This can be accomplished by passing a resolution for the partners.
One of the partners must be given the authority to fulfill the amendment requirement as well as to file with the MCA. 
Following the completion of the preceding two processes, the LLP agreement must be amended 
Then there is the requirement of paying the stamp duty
To confirm the validity of the supplementary deed and the LLP agreement the partners must sign the agreement.
At least two witnesses must attest to the amended LLP agreement
 

The Details to Be Filled In Form-3 Are:

• Modification date of the LLP agreement
• The reason for the changes to be made:
• Changes to the business
• Changes in composition of partners
• Changes to  the ratio of profit/loss between the partners
• Changes in other important details include:
• The duties and rights of the company/ partners
• Restriction on the authority of partner(s)
• Changes to the management or the administration of the partners or alteration to the procedure of conducting meetings.
• Indemnity clause details
• Changes  related to partners such as:
• Retirement
• Expulsion
• Termination
• Resignation
• Admission
• For resolving the disputes between:
• Partners
• Partners and the LLP
• Other clauses that are related to LLP
   

Documents to Be Filed With Form-3:

• The LLP agreement before amendments
• The LLP agreement after amendments is done
• Other relevant and important documents

Documents to Be Filed Along With Form-4:

Document with the consent of the partner
The proof of termination.
The proof for changing the name or an affidavit for the same.
In case, the designated partner is a company, a resolution has to be given by the company in order for a new person to become a partner at the LLP
An authorization letter also needs to be submitted mentioning the name and address of the person who is nominated as the representative/partner.
The changes made in the LLP agreement are only applied and completed once they are approved by the Ministry of Corporate Affairs (MCA).