Change in P/L sharing ratio in LLP

[Pooja Barot]

Dear Professionals,

What is the procedure to change profit/loss sharing ratio in LLP?

Thanks in advance.

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Regards,

 

ACS Pooja Barot

[Jagdish Sonagra]

Please make Supplement LLP Agreement and file in form 3

[Pooja Barot]

Thanks Jagdishji,

it is possible to be a partner in LLP with 0% contribution or P/L sharing ratio?

As two partners of LLP wants to transfer their P/L ratio to another two partners.

In these case whether they can continue to be partner without sharing profit & loss?

On Sat, May 23, 2015 at 2:13 PM, Jagdish Sonagra <sonagraj...@gmail.com> wrote:

Please make Supplement LLP Agreement and file in form 3

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[csnavneet]

No they can not do so. There is a case law on this as well.

Sent from Samsung Mobile

[Pooja Barot]

Thanks Jagdishji and Navneetji.

Navneetji you mean to say partners has to contribute towards contribution as well as share profit/loss?