AMENDMENT IN LLP AGREEMENT

[Vidhya]

Dear Friends,

We have to amend LLP Agreement Regarding this we need the following clarifications.

a).The LLP registered office is situated at Karnataka.If we amend the LLP Agreement,whether again stamp duty attract ?If so how much the amount will be?

b).The existing agreement date is on June 2011.We are going to amend the agreement  on current date whether we have to change the date in Introduction content of agreement'

c).In between 2010 and 2011 there is a shifting of registered office within the local limits.And we have filed Form 15 and the form got approved.Whether we have to change the registered office address in the agreement.

d).Contribution for LLP is fixed as 150 Lakhs .Whether the contribution has to be made at a single stroke or it can be made at any time.There is no specific clause in Agreement

e).Relative of a Designated Partner is appointed as a employee of LLP and he will be paid with a remuneration of more than 50,000 + incentive in project.Whether it will attracts any provision in LLP (Like 314 in Companies Act).

Early reply will be very much appreciated.

Thanks & Regards,

CS.Vidhya

VIESVA CORPSERV PRIVATE LIMITED

[Pavithra and Madhwesh]

Hi Vidya,

 

Please find the reply in blue font.

 

On Wed, Mar 7, 2012 at 1:26 PM, Vidhya <vidh...@gmail.com> wrote:

Dear Friends,

We have to amend LLP Agreement Regarding this we need the following clarifications.

a).The LLP registered office is situated at Karnataka.If we amend the LLP Agreement,whether again stamp duty attract ?If so how much the amount will be? yes stamp duty will be attracted. any agreement without the stamp duty will not be valid in court of law. it is Rs.1000/- or Rs.500/- depending upon the contribution made. please check the karnataka stamp act in this regard.

b).The existing agreement date is on June 2011.We are going to amend the agreement  on current date whether we have to change the date in Introduction content of agreement'. No. the date of original agreement should not be changed and should be retained as June 2011. execute one more agreement i.e amendment agreement with current date. The amendment agreement will act as the supplementary agreement to the original agreement and will be the integral part of the original agreement. you can draw up amendment agreement indicating the modifications only. it is also advisable to state at the begining of the amendment agreement that such agreement is in continuation of the original agreement and is the integral part of original agreement.

c).In between 2010 and 2011 there is a shifting of registered office within the local limits.And we have filed Form 15 and the form got approved.Whether we have to change the registered office address in the agreement. retain the original address in the original agreement. in the amendment agreement insert the new address

d).Contribution for LLP is fixed as 150 Lakhs .Whether the contribution has to be made at a single stroke or it can be made at any time.There is no specific clause in Agreement. the partners can make the contribution in phased manner also.

e).Relative of a Designated Partner is appointed as a employee of LLP and he will be paid with a remuneration of more than 50,000 + incentive in project.Whether it will attracts any provision in LLP (Like 314 in Companies Act). no such provision in the LLP Act. other members' view invited.

 

Early reply will be very much appreciated.

Thanks & Regards,

CS.Vidhya

VIESVA CORPSERV PRIVATE LIMITED

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Thanks and regards,

 

Pavithra and Madhwesh

 

9535574123 / 9972072349 / 9980672126

[Vidhya]

Thank you very much for your detailed reply.

Regards,

Vidhya

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[Vidhya]

Dear Friends,

We are going to introduce a new partner in LLP.Few Clauses has to be altered.For that we have to prepare a supplementary Agreement as rightly pointed out by Pavithra.Now following are my queries

a).Whether introduction of new partner needs reconstitution of Partnership deed or in the supplementary agreement itself we can mention the new partners name.

b).Whether a DP can receive remuneration for his services rendered??????If so is there any ceiling limit for remuneration breakup in LLP Act.

Thanks & Regards,

CS.Vidhya

VIESVA CORPSERV PRIVATE LIMITED

On Thu, Mar 8, 2012 at 10:06 AM, Pavithra and Madhwesh <pavithra...@gmail.com> wrote:

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[Pavithra and Madhwesh]

Hi Vidya,

 

Please find the reply in blue font.

On Sat, Mar 10, 2012 at 9:35 AM, Vidhya <vidh...@gmail.com> wrote:

Dear Friends,

We are going to introduce a new partner in LLP.Few Clauses has to be altered.For that we have to prepare a supplementary Agreement as rightly pointed out by Pavithra.Now following are my queries

a).Whether introduction of new partner needs reconstitution of Partnership deed or in the supplementary agreement itself we can mention the new partners name. No need to reconstitue the partnership deed. Please include the new partner name in supplementary agreement.

b).Whether a DP can receive remuneration for his services rendered??????If so is there any ceiling limit for remuneration breakup in LLP Act. The LLP act does not restrict the remuneration. It all depends on the LLP agreement.

[Vidhya]

Thank you madam for your prompt reply

Regards,

Vidhya