A limited liability partnership agreement governs the management, administration, and operations of a limited liability partnership. After the incorporation of LLP, the LLP agreement is registered with the registrar of companies. To make the policies of operation more simplified and standardized Various changes are adopted. If there is any change in right, liability, or any clause as per the business requirement after the formation of a limited liability partnership, then it is advisable to change the LLP agreement. There are many situations where the need of changing the LLP agreement arises.

If there is a change of business activities of the limited liability partnership or a change of any of the clauses of the limited liability agreement then the partnership should up to change the agreement. Another situation that involves the change of LLP information is when there is a change of capital contribution by the partners of LLP, for example, if there is the addition of capital in LLP, or reduction in the capital of LLP, or there is a change in the ratio of capital introduced by the partners. The change in the management structure of the limited liability partnership will also require a change in the agreement. If there is any addition of partners, the appointment of a partner, expression of a partner, retirement of a partner, or resignation of a partner then the information of the agreement will need to be changed. Any change in the profit or loss sharing ratio of the partners has to be noted too. Any modification of rights and liabilities, Change off duration of LLP, or any alteration, addition, or deletion of a clause in the LLP Is such information that needs to be noted and proper change in the agreement is to be made.

To amend the limited liability partnership agreement it is important to get the assent of the partners of the limited liability partnership and a resolution at the meeting of the partners Needs to be passed.

The authorized designated partner has to fulfill the requirement of appointment and file an application with the ministry of corporate affairs.

If the change of agreement is due to the addition of capital contribution then She is required as per the state stamp act, And the fees of stamp duty differ and are based on the state stamp act.

If the changes not due to capital contribution then the supplementary deed is executed. The Stamp duty fee is rupees 100. As long as the LLP agreement is valid the supplementary deed will remain in force.

The agreement will need the signatures of the partners in the supplementary deed. And it will need to be attested by at least 2 witnesses.

As prescribed on the portal, for approval of the supplementary deed one has to apply through LLP form 3, and before this a fixing the digital signature certificate of the designated partners and practicing professionals is mandatory.

The Attachments required while filing the agreement with the ministry of corporate affairs through LLP form 3 are the Original LLP agreement, the supplementary deed to LLP agreement, the resolution that was passed in the meeting of partners, and any other document as prescribed in the application. A penalty of rupees 100 is levied on the failure of filing the e-form within 30 days of the execution of the supplementary LLP agreement.

Once the company receives a receipt of approval from the ministry of corporate affairs for the application filed for the change in the LLP agreement, the supplementary LLP agreement will come into effect from the date of execution or the effective date of the change.

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being.