Change in Objects of LLP

Change in Objects of LLP

Change in Objects of LLP

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What is change in main Object of LLP?

Change is the main objects means to change the existing main business activities of the LLP due to any reasons. Main activities mean those business activities which a LLP want to do after its incorporation. LLP can do business activities which are mentioned in its LLP agreement and other ancillary activities in supporting with the main activities of the LLP.

Why we need to change the main business activities?

Change in Objects of LLP

When a partner wants to expand its business, then they may change its main business activities and if the partners want to do any other business activities which is not mentioned in the LLP Agreement earlier then they may change their main business activities of the LLP with the mutual consent of the partners in the LLP Agreement.

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.

Basic
₹ 8260
  • Package Includes
  • Change MOA
Advance
₹ 8260
  • Package Includes
  • Change AOA
Premium
₹ 17700
  • Package Includes
  • Change MOA
  • Change AOA
  • Change Name

Documents Required for Change in Objects of LLP

  • Main object that is to be amended
  • Supplementary agreement
  • Resolution of the meeting of the designated Partners
  • Minutes of the meeting of the designated partners

Process Involved

Step 1

1

Meeting of the partners

Step 2

2

Documentation

Step 3

3

Stamp Paper

Step 4

4

Preparation for Form-3

Step 5

5

Form-3

Step 6

6

Approval

FAQ'S
  • How can I change the objects of the LLP?
  • Objects can be change by executing the supplementary agreement/deed and file the E-form LLP-3
  • What are the documents required for change in objects of the LLP?
  • Supplementary deed/Agreement shall be executed in any change in the objects of the LLP.
  • What are the specific activities which need prior approval?
  • 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.