Format of Supplementary Agreement to LLP Agreement (For name change)

A Supplementary Agreement to the LLP Agreement serves as a legal instrument for effecting changes, such as a name change, to an existing Limited Liability Partnership (LLP) setup. Governed by Section 23(4) of the LLP Act, 2008, this agreement facilitates alterations to the original LLP agreement, ensuring compliance and reflecting updated terms and conditions. By documenting revised terms and conditions agreed upon by the involved parties, this legal instrument ensures transparency, compliance, and the smooth transition of the LLP’s operations. It underscores the significance of formalizing changes through legally binding agreements, thereby upholding the integrity and legitimacy of LLP operations.

DRAFT Format of Supplementary Agreement to LLP Agreement (For name change)

(As per Section 23(4) of LLP Act, 2008)

THIS SUPPLEMENTARY AGREEMENT of Limited Liability Partnership made at _______ on ___________________, 2020 between:

Mr. _____________S/o______________, Aged about __ years, Resident of __________________________ (hereinafter called the party of the First Part). 

Mr. ___________________S/o ________________________, Aged about __ years, Resident of _____________ (hereinafter called the party of the Second Part).

WHEREAS all the above parties had entered into an agreement to form a Limited Liability Partnership by the name _____________ (hereinafter referred to as LLP) in terms of the LLP Act, 2008 vide LLP Agreement entered into _____________________ and thus an LLP was created vide LLP Identity No.____________ and now is amended by this Supplementary LLP Agreement dated _________________.

NOW THIS SUPPLEMENTARY LLP AGREEMENT WITNESSES AND HEREBY MUTUALLY AGREED BY AND BETWEEN THE ABOVE SAID PARTIES HERETO:

THAT_____________________________________________________________________;

THAT ____________________________________________________________________;

THAT the Capital of _______________ is INR ______ which shall be ___________________. further contributed by the Designated Partner and Partners in the following ratio:

THAT the further capital contribution; if any; required by the ____________________________ shall be brought by the Partners as may be mutually decided by them;

THAT Clause ________________ have been duly complied with so as to give effect to the above changes in the Original LLP Agreement; and

THAT other Terms & Conditions shall remain same as per the Original LLP Agreement entered into between the Parties.

IN WITNESS WHEREOF the Parties hereto have hereunto set their respective hands and seals the date, month and year first above written:

Signed and Delivered

For And On Behalf Of

_____________________________

__________________________

Partner

_________________

Designated Partner
(DPIN: _________________)

__________________________

Designated Partner
(DPIN: _____________)

WITNESSES:

1.

2.