Change In Objects
With just one phone call, our professionals will discuss all of your needs. We’ll make recommendations for changes, answer questions about whether or not it is the right time for you to expand on your own, and we can even take care of the paperwork too!
Why we need to change the main business activities?
What kind of business activities a LLP can do?
LLP is incorporated for doing any legal business activities. However, incorporation document prohibits, LLP from doing NBFC business activities. Also, LLP name guidelines, mandate that if the name of the LLP indicative of activity, LLP activities must relate to the activity indicated in the name.
How to Change objects in LLP?
The LLP agreement contains a clause regarding LLP activity and procedures to be followed for changing the object. Based on the partners understanding, the supplementary agreement is prepared and requisite e-Form filed with respective Registrar of Companies to changes the object of LLP.
- Change in Objects of LLP
Documents Required For Change in Objects of LLP
Meeting of the partners
Conduct the meeting of the designated partners of the LLP for getting the approval of new name and check the availability of the name from MCA portal.
Prepare all the necessary documents that is supplementary documents, minutes of the meeting and resolution of the meeting
Supplementary agreement should be properly notraised and stamped
Preparation for Form-3
Prepare form-3 with all necessary documentation.
File form-3 within 30 days from the date of signed supplementary agreement to registrar of companies with prescribed fees.
Get approval from the government.
You can change LLP object through filling form LLP-3 along with the required documents.
Supplementary deed/Agreement shall be executed in any change in the objects of the LLP.
Business activities consisting of banking, insurance, venture capital, mutual fund, stock exchange and asset management are allowed provided that in-principle approval from regulatory authorities is obtained. Please note that as per RBI guidelines, LLPs are not permitted to undertake NBFI activities.