Change In Objectives of LLP

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Why we need to change the main business activities?

When a partner wishes to grow their business, they can alter the LLP's primary business activities. Additionally, if partners wish to engage in any other type of business that was not previously covered in the LLP Agreement, they can do so with the other partners' consent.

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.