Change In Capital Contribution
Boost investor confidence when contribute in the LLP, because they are confident there is no lack of access to funds, so its required to increase your capital as LLP grows.
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Why we need to increase contribution in LLP?
We need to increase contribution in LLP due to the following reason:
- To expand the business,
- To introduce any new partner,
- To increase the business activities,
- Any other requirement as per the partners.
How may one enhance their participation in an LLP?
Within a maximum of thirty days from the date of the LLP Agreement change, E-Form LLP-3 must be filed with the Registrar. To file in e-form-3, only the updated LLP agreement, the initial agreement, and the partners' approval are needed.
When we can increase contributions in LLP?
A partner and designated partner of the LLP may increase contribution in the LLP at any time, whenever they feel the requirement of extra capital in the LLP or at the time of new partner or designated partner introduce in LLP, then the new person also contributes for LLP.
Documents Required For Increase Contribution of LLP
- Consent of the designated partners for increase in the contribution
- Minutes of the meeting of the designated partners
- Form of Contribution
- Stamp paper according to the contribution of the LLP that to be introduced.
Process Involved
Step-1
Conduct the meeting of designated partners and get the approval for increase in the contribution of LLP.
Step-2
Preparation of all the necessary documents that is supplementary agreement, minutes of the meeting etc.
Step-3
Supplementary agreement duly stamped and notraised
Step-4
Prepare form-3 with all the necessary documents.
Step-5
File form-3 with prescribed government fee within 30 days from the date of revised supplementary agreement.
Step-6
Receive approval from the registrar of the companies.
