LLP Agreement With ROC

The LLP agreement is a fundamental document for the LLP which is considered as the constitution of the LLP. The mutual rights and liabilities among the partners and the functioning of LLP as such is governed by the clauses of LLP agreement. Team Profaides is experienced to handle drafting and filing of the LLP agreement.

The relationship of partners intense and with the LLP is determined and prescribed in a written agreement known as LLP agreement. The agreement of LLP is treated as partnership deed for the purpose of computation of stamp duty which needs to be paid to the state government for LLP agreement. The stamp duty is based on the capital of the LLP and the state where its registered office is situated. In case the partners do not have a written agreement then the relationship between the partners is governed by the schedule I of the LLP Act. The LLP is required to file the LLP agreement within 30 days of its incorporation. Similarly whenever there is any change in the agreement the same is required to be filed within 30 days of change in the agreement. The change whether small or large, if not filed with the ROC does not have the legal backing.

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Stepwise procedure to prepare and file LLP Agreement

  • Partners of an LLP to decide Terms
  • Draft the LLP agreement and get it vetted
  • Print the LLP agreement on Non-Judicial Stamp Paper of Appropriate Value
  • Signature of the partners and Notary of the agreement
  • File the LLP agreement in soft form to ROC in Form No-3
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