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ADD DESIGNATED PARTNER

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What is Add a Designated Partner

A Limited Liability Partnership (LLP) is governed as per the rules of Limited Liability Partnership Act, 2008. In today’s era, an LLP is gaining more popularity than a Private or a Limited Company form of business because of its easy nature and the lesser compliances. Every Limited Liability Partnership (LLP), should have minimum two individuals who are partners shall act as designated partners and participate in the day-to-day activities. These partners must have a and their names must feature in the LLP agreement
The designated partners should have their respective Designated Partner Identification Number (DPIN)and Digital Signature Certificate (DSC), and their names must be present in the LLP Agreement. To add a designated partner LLP, required will be a provision/clause for doing this in the concerned LLP Agreement, as well as the unanimous consent of all partners of the LLP is required.

Eligibility Criteria for becoming a Designated Partner

  • Only Individual can be appointed as Designated Partner in LLP.
  • The Person wish to appointed as a Designated Partner in LLP must have a Valid Director Identification Number.
  • After obtaining Director Identification number an individual is eligible for appointment as a Designated Partner.

What Documents are Required?

  • Digital Signature certificate (DSC): The proposed designated partner shall apply for a DSC. The following documents are required for the application:
  • PAN Card of the applicant
  • Aadhaar Card of the applicant
  • Photo of the applicant
  • Email Id of the applicant
  • Phone number
  • Consent to act as Partner/ Designated Partner (when applicable);
  • Resolution passed at the meeting of Partners;
  • Original LLP Agreement; &
  • Supplement Deed to LLP Agreement

Procedure to add a Designated Partner:

  • Apply for Digital Signature Certificate
  • Apply for DIN Number- After the DSC, the Director Identification Number of the Director will be applied in the form DIR – 3 along with the address proof and the identity proof of the applicant.
  • Once the DIN is allotted to the designated partner, all the existing partners of the LLP will call a meeting and pass a resolution to add a designated partner in the partnership deed.
  • A supplementary partnership deed will be drafted in which the new partner’s name will be added.
  • Then the consent of the incoming partner will be taken in writing.
  • After Appointment of Designated Partner LLP is required to inform concerned Registrar of Companies i.e. in whose jurisdiction Registered office of LLP is situated, After these documents are prepared, Form – 4 of LLP will be filed within 30 days of the appointment Pre Certification by Professional by CS, CA OR CMA
  • After filing this form, FORM – 3 will be filed, along with the supplementary and the original partnership deed within 30 days of appointment.
  • After the filing of all these forms, the name of the designated partner will be added and will be seen on the site if the Ministry of Corporate Affairs. The application of change of designation or addition and removal shall be reviewed by the registrar. The registrar on his satisfaction may grant the approval for the changes. Here, the changes shall be effective only after the approval received from the Registrar. However, the said changes will be having retrospective effect to be in force, once approved.

If Form – 3 and Form – 4 are filed within 30 days there is an additional fee on each form of Rs. 100/- per day.