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NAME CHANGE OF LLP
As the LLP is a creation of Law, the changes in it can only be done by the procedures established under law. Apart from the LLP Act, 2008 and the rules framed thereunder, the primary document which guides and prescribes the method of bringing in a particular change into LLP is its agreement. Needless to mention that the LLP agreement to be enforceable, must be executed on non-judicial stamp paper of appropriate value as per the relevant state government rates. The LLP act further prescribes that the agreement must be registered with the ROC within 30 days of its creation or changes.
The name of LLP can be adopted only after it meets the requirement of name availability guidelines of the ministry of corporate affairs. In case an LLP is wishing to change the name of the LLP the same can be done by first applying for reservation of a new name of the LLP. The care must be taken while reserving a name that it does not resemble with an already incorporated company or LLP or a trademark. To reserve a name, the application is to be moved in Form No-1 with the prescribed fee to the ROC. Once ROC is satisfied with the legality of the name, it approves the name and issues a name approval letter to the LLP. The LLP Name Change can be done by following the provisions mentioned in LLP the agreement however if agreement is silent on this point, then a reference may be made to the Ist schedule of LLP act which describes mutual rights & duties of partner/LLP on such matters. The procedures to be adopted for change in the name of LLP is first to seek the consent of the partners of the LLP, after that making changes in the LLP agreement. The application for change in name and the amended LLP agreement is filed for approval of the ROC, and after the approval of ROC new certificate of incorporation is issued with the changed name of the LLP.