Change in LLP Agreement

LLP agreement is the charter of LLP. It works similar to memorandum of association and articles of association for a company.  LLP agreement governs the scope of operations of LLP. LLP agreement lays down the rights, duties and obligations of the partners and the designated partners. An LLP agreement can be changed any time after incorporation with the mutual consent of the partners. To change any of the clauses, a supplementary agreement or deed is to be executed on non judicial stamp paper with appropriate stamp duty. Any change so made should be notified to ROC within 30 days of change or execution of the supplementary agreement

Penalty of Rs. 100 per day is levied for delay in intimating to ROC.