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Removal of Partner from LLP

REMOVAL OF PARTNER

Now removal of partner from LLP became a hassle-free process with LEGALDISHA.

APPLY FOR REMOVAL OF PARTNER NOW

    OVERVIEW

    There shall be at least two designated partners in the LLP who must be individual. Partners in LLP can be removed or resign from LLP by filing required forms and making alteration in the clauses of the LLP Deed. Such removal is required to be intimated to ROC by filing of LLP e-form. Such removal is required to be provided by way of notice.

    HOW WE WORK

    Fill the form and make nominal payment

    1. Fill the form and make nominal payment

    Our experts will collect and verify the necessary documents.

    2. Our experts will collect and verify the necessary documents.

    Make the balance payment.

    3. Make the balance payment.

    Preparation and filing of  application for removal of partner along with all the information.

    4. Preparation and filing of application for removal of partner along with all the information.

    You will receive acknowledgment for filing.

    5. You will receive acknowledgment for filing.

    CONGRATULATIONS YOU FILING IS DONE!!!

    DOCUMENTS REQUIRED FOR REMOVAL OF PARTNER

    Digital Signature Certificate & DPIN
    Digital Signature Certificate & DPIN

    DSC of Partner to sign forms & Valid DPIN of Partner.

    Consent /Resignation
    Consent /Resignation

    Consent to leave /resignation letter of partner or designated partner.

    LLP Agreement
    LLP Agreement

    Existing LLP Agreement of the LLP & supplementary agreement.

    Resolution of removal
    Resolution of removal

    Resolution for Authorizing partner.

    AUTOMATIC REMOVAL OF PARTNER
    • In case of death of partner.
    • In case the LLP is dissolved.
    • In case the partner is proved as of unsound mind.
    • In case partner is declared as insolvent.
    RIGHTS OF OUT-GOING PARTNER
    • Entitled to share his profits made by the firm.
    • Sum of amount of capital contribution contributed.
    • Entitled to use his share in the property of the firm.
    • Entitled for any interest on capital contributed.(if any)

    PROCEDURE OF REMOVAL OF PARTNER

    1
    DRAFTING RESOLUTIONS

    A resolution for removal of partner is done by partners of LLP after conducting a meeting. All the partners will mutually select any one partner to act on legal proceedings on behalf of the firm. Such selected partner shall carry out the legal formalities, must hold the Digital Signature Certificate and Designated Partner Identification Number.

    2
    DRAFTING OF SUPPLEMENTARY LLP AGREEMENT

    Supplementary LLP agreement refers to an agreement which provides for provisions to carry on business. It contains provisions related appointment, removal, rights and liability of partner. Therefore the execution should be in according with the provisions of the LLP agreement.

    3
    FORM FILING & SUBMISSION

    E- form will be filled with correct data and proper disclosure along with all the required information and attachments.

    4
    ACKNOWLEDGMENT RECEIPT

    The filled application is to be submitted online and acknowledgement will be generated which can be used for tracking the application.

    Frequently Asked Questions

    What are the Rights of removing partner?

    The Rights of removing partner are

    • Any sum of amount of capital contribution contributed by him/her.
    • His/her share in the accumulated profit or loss calculated at the date of his/her removal.

    What is meant by DPIN (Designated Partnership Identification Number)?

    DPIN refers to an identification number which may be allotted by the Central Government to any individual to the designated partner of a LLP, for the purpose of his identification.

    What is meant by Digital Signatures Certificate?

    A DSC is Digital Signatures which helps to identify the sender or the signee electronically. The Ministry of Corporate Affairs has made mandatory for the designated partners to apply with the Digital Signatures.

    How partner of LLP can be removed?

    For removal of any of the partner in LLP, it cannot be done without the majority of the other partners.

    Also, the agreement between the partners must provide any provision or such powers to be practiced by the partners of the LLP for removal.

    When partner of LLP can be automatically removed?

    A partner would be automatically removed out of the LLP in case of any of the following:

    • Death of Partner
    • Desolution of LLP
    • Partner is proved to be of unsound mind
    • Partner declares himself as insolvent