What is Change in LLP Agreement
LLP Agreement is a fundamental document that governs the LLP and its operations as a whole. The partners have to abide by the clauses laid by it and not to act beyond the scope drawn. An LLP Agreement can be changed any time after incorporation with the mutual agreement of the partners. Among various reasons, change in activities or capital or rights and responsibilities are top to lead change.
To change any of the clauses, a supplementary agreement is executed as an addendum to the original agreement. It will be executed by payment of required stamp duty. Any change must be notified to the RoC (LLP) within 30 days of change or execution of the supplementary deed.