RESIGNATION OR REMOVAL OF PARTNER IN LLP

 

Basic information

 

Partners in the LLP are responsible for carrying out business of the LLP. A Partner in LLP can resign or can be removed for various reasons. Resignation or removal of Partner from LLP must be notified to the Registrar of Companies. The Resignation of partner is governed by LLP Agreement however Partner can resign from a LLP by providing notice of resignation in writing not less than 30 days to the LLP and other Partners of the LLP. In cases like death, insolvency or incompetency of a Partner or dissolution of the LLP, the Partner would automatically cease to be a Partner. A Partner in a LLP can also be removed by a majority of the other Partners in the LLP, if the LLP agreement expressly provides such powers.

LEGALRAJ will assist you to effectuate resignation or removal of Partner of LLP. The average time taken to file for resignation or removal of Partner is about 2 working days, subject to government processing time and client document submission.

 

How we help with resignation of partner

 

1. Consultation: We will review your LLP Agreement to determine the course of action for resignation or removal of Partners or Designated Partner in the LLP. As per complexities involved, we will assist you with the procedure for resignation or removal of Partners or Designated Partner and matters related thereto.

 

2. Partners’ Resolutions: Then we will provide timelines, documents and do the compliances for you.

 

3. Filing: We will timely file applicable returns, documents and other formalities with the Ministry of Corporate Affairs to effectuate resignation or removal of Partners or Designated Partner.