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COMPANY REGISTRATION

Businesswindo.com is online portal will help you out to start a business by registering it as per your requirement, We specialize in company registration with wide range of business entities like Private limited, One-Person Company (OPC), Limited Liability Partnership (LLP) or Sole Proprietorship Compan.

SECRETARIAL SERVICES

Within any organization, a Company Secretary’s duties include ensuring the integrity of the corporate governance frameworks, being responsible for the efficient administration of a company, ensuring compliance with statutory and regulatory requirements and implementing decisions made by the Board of Directors.

ACCOUNTING & AUDIT

At Businesswindo.com you can avail a package where all your tax related needs will be sorted out so you can concentrate to grow your Business. We help you get your books of accounts audited by qualified professionals on our panel eligible to provide - Statutory Audit, Tax Audit, Internal Audit and Management Audit.

INTELLECTUAL PROPERTY

Will help you out to protect your ideas let it be in the form of a Brand Name, Design, Logo or a New Invention . We have a specialized team of Trademark Agents, Patent Attorneys and Corporate Lawyers to serve you better.

TAX & GOVERNMENT REGISTRATION

At Businesswindo.com we also assist to obtain various Tax Registration and also to file the tax returns on time let it be your Value Added Tax, Service Tax, Income Tax, Professional Tax ,FSSAI License, Import Export Code and more.

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Our experts will help to prepare IP Violation notice, NRI immigration services and drafting of Legal Documents, Agreements like Vendor Engagement Agreement, Confidentiality and Privacy Agreements with employees and associates.

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About Business Windo

BusinessWindo.com is a unique platform which provide opportunities to young & aspiring minds. It offers online consultation, to budding entrepreneurs pan India, in overcoming the initial formalities of starting a business. This is an initiative to utilise the bandwidth of legal and financial fraternity in business, by lending support to the start-ups under one roof. This one-of–its-kind platform, comprises of legal and professional experts who helps these business set ups.

BusinessWindo.com is a unique venture with an initiative to serve start-ups and new business set ups and support them with services such as New company incorporation, Tax registration, Filing of various taxes, Secretarial services, Chartered accountant services, Trademarks, Copy right, Patent and many more at affordable charges with better transparency.

Unlike other service providers, BusinessWindo provides more than 50 services to its users. In addition, all services are relatively affordable compared to the market and still maintaining the high quality standards.

With a team of young, energetic team it focuses on providing hassle free, transparent online services on www.BusinessWindo.com at affordable price.

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Why Choose Business Windo?

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Value for Money

Handled 1000+ projects and delivered substantial results.

No Hidden Costs

All-round performance throughout toughest challenges and risks.

100% Clear Documents

Our esteemed client’s proposition and absorb their valuable inputs.

Thousands of Happy Clients

Retain customer loyalty by providing consistent efforts and ideas.

Promise best Quality.

Assure complete confidentiality of information shared with us.

24x7 SUPPORT & ASSISTANCE

Troubleshoot service-based problems & help resolve discrete technical issues.

One of the first reasons for which you should choose Businesswindo.com is because it is a capable organization in various areas of business such as Company Registration in Bangalore and GST taxation matters. The organization uses qualified professional experts in the domain of company registration to make your company registration process much smoother than before. The company provides you value for money and in this day and age this is one value that is cherished so highly. When you do business with us you can be sure that there would not be any hidden costs whatsoever and your documents would be cent per cent clear as well. This will make sure that you do not face any problem later on.

We have been in the business for a long period of time and as such we have associated with plenty of entities. They have been happy with the services that we have provided to them and this has cemented our position as a market leader in our chosen domains. More than anything else, we are committed to providing you the best service that we can – in terms of commitment and quality. When we are working with you, your problems are our problems and we would always make our best attempt to solve them to your utmost satisfaction.

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How to obtain FSSAI license in Bangalore?

How to obtain FSSAI license in Bangalore?

The FSSAI (Food Safety and Standards Authority of India) license is an initiative of the Indian Government. The main aim behind starting it was to make sure that there was no compromise on the quality of the product, that it was not adulterated in any way whatsoever, that the quality of the product was a lot better compared to what it was earlier, and to make sure that the manufacturers were accountable at all times. Each and every food business in India needs this license from this authority body in order to perform its business. It is obligatory for all manufacturing units as well as distribution units.

Introduction to the FSSAI license

All the restaurants, and even street food vendors, need approval from FSSAI to do their business. It does not matter how much they earn in a year – they have to have this license. Operators in the food business of India need to apply for this irrespective of the scale that they are operating at. Normally this license provides you a 14 digit license or registration number that is printed on the package of your product.

The FSSAI license is classified into 3 types. We can say that there are three categories of food license in India such as

  1. Basic license
  2. State license
  3. Central license.

You can apply for the basic license if your turnover is lower than INR 12 lakh. If your turnover is between INR 12 lakh and INR 20 crore you can apply for a state license. If your turnover exceeds INR 20 crore you should apply for a central license.

And the business operators can choose the food license based on their root. Apart from this, a normal food business operator must require the basic food license. If your products are superior quality to others, safety and healthy, no adulteration, value for money, more demanding and you want to expand the business then you can go for state or central license.

Why does a food business operator need a license?

There are several reasons as to why FBOs (food business operators) such as you need to apply for this license apart from the fact that it is mandatory. You need to make sure that your consumers do not fall ill or their safety is not compromised in any way after consuming your product. The license happens to be a great tool of marketing and this is one reason why it can boost your business to such an extent. The license is necessary to make sure that you are able to provide the finest quality of food to the people.

This license also helps you stay at par with the statutory requirement of the government as well. This is a recognition from the union ministry of health and assures the common consumers that you are providing the finest quality of food to your consumers. The FSSAI license can help you expand your business quite easily as well. With the help of this license you would also find it easier to raise money from financial institutions such as banks and expand your business. You can use the logo on pamphlets and menu cards as well and it would be a sign of the fact that the food you are selling is superior to others in terms of quality.

Services that need this food license

As is stated by laws in India each and every FBO has to apply for this license and procure it. A food business is basically one that takes part in making, storing, packing, and distributing food. It could also be one that imports or exports food, and processes food. The following kinds of entities are regarded as FBOs and they needs FSSAI authorization:

  • Restaurants, boarding houses, and clubs that serve food
  • Canteens of schools, offices, colleges, and various other institutions
  • Warehouses
  • Catering services
  • Homemade food businesses like chocolates, jams, and pickles to name a few
  • Bakery
  • Food trucks
  • Sweet shops
  • Food technology service providers
  • Cafes
  • Banquet halls that have arrangement for food catering
  • Food vendors such as dabbawallas

As far as FBOs are concerned there are a wide range of rules and regulations that it has to follow in order to get this license just so that you are able to sell their products and services in the market.

Penalties and offences as per FSSAI rules

If you do not have an FSSAI license you could be imprisoned for as long as 6 months and you may have to pay fines that are as high as INR 5 lakh. If you have issues with the quality of your food you may have to pay a fine of INR 5 lakh.

The penalty is the same in case of subpar food. In case someone dies by eating your food you would have to pay at least INR 5 lakh. In case someone is injured seriously you may have to pay a maximum fine of INR 3 lakh. The figure is same in case of other injuries as well.

Renewal and validity of FSSAI license

The license has to be taken for a period of at least a year. At the most it can be availed for 5 years.

As an FBO you can apply for a license on the basis of the demand and supply of the product in question. As far as small vendors and startups are concerned it is better to have at least a basic license. When the business expands you can go for a central or state license as well. If you want to renew it you should apply for the same at least 30 days before the validity period expires. If you fail to appeal within this period you may have to pay fines as well. This is the reason why you should apply for the same within the prescribed time.     

Getting the FSSAI license/ registration in Bangalore

You can forward your online application for the FSSAI license to the following address in Bangalore:

Food Safety Commissioner for Karnataka,

Commissioner of Health & Family Welfare Services,

Health & Family Welfare Services,

Public Health Institute,

Sheshadri Road, Bangalore – 560001

You can also call 9069142028 for help in this regard. In fact, as far as getting this license is concerned you can seek help from registration agents working in the Garden City. They happen to be licensed by the authority body itself and would thus help them get the job completed with ease. These agents employ experts with regards to the kind of food license that would be just what the doctor ordered for you. However, it is always better to keep checking the internet and getting touch with the authorities in order to get the latest information in this regard.

How to Apply for MSME Registration in Bangalore Karnataka?

How to Apply for MSME Registration in Bangalore Karnataka?

These days, there are several reasons as to why a number of small and medium enterprises (SMEs) are being formed in Karnataka as well as other parts of the country. You can be considered eligible for lower rates of interest on loans, you can get subsidies on power tariffs and tax subsidies, and you can become a part of capital exemption schemes and receive capital investment subsidies as well. You can also be granted exemptions from direct tax laws.

These days, all the states and union territories in India have their own special packages whereby they provide incentives and facilities for the small scale companies.

There are some other benefits of forming such a company as well. They need a very short period as far as conceptualization is concerned. They are mainly labor intensive, which is available abundantly and for cheap in India.

As far as decentralization of power is concerned they are great indeed. All the benefits that accrue to an SME come through the MSMED Act that has been passed by the Government of India. And its registration is free of cost, no need to pay any fees to Ministry of MSME department; but it is very important to be registered as an MSME in order to get the benefits provided to such companies in India.

What is MSME Enterprise?

MSME means the enterprises or industries that’s stands for Micro, Small and Medium Enterprises, as the name indicates that it includes with the enterprises which may be a medium level or below medium level or below to below medium level with respect to their terms of productions, services and investment towards the business goal.

According to the provision of Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 the MSME is classified into two classes such as

  1. Manufacturing Enterprises
  2. Service Enterprises

As stated by the Ministry of Micro, Small & Medium Enterprises department, manufacturing and service based industries are required to invest capital on plant & machinery and equipment head.

Because the manufacture industries are defined as in terms of investment in plant & machinery where as the service provider industries are defined as in terms of investment in equipment.

So, here take an overview on the conditions for investment in plant & machinery/ equipment for manufacture or service holder as below:

Enterprises Investment Limit on Manufacture Sector:

Enterprises of manufacturing or production sector can be invested the amount in plant and machinery field by the below limit

  • Micro Enterprises: A micro enterprise can invest capital upto Rs. 25 lakh in plant and machinery (≤ 25 lakh).
  • Small Enterprises: A small enterprise can invest capital Rs. 25 lakh to Rs. 5 crore in plant and machinery (> 25 lakh and ≤ 5 crore).
  • Medium Enterprises: A medium enterprise can invest capital Rs. 5 crore to Rs. 10 crore in plant and machinery (> 5 crore and ≤ 10 crore).

Enterprises Investment Limit on Service Sector:

Enterprises in the service sector can be invested the amount in equipment field on the basis of the below information

  • Micro Enterprises: A micro enterprise couldn’t exceed Rs. 10 lakh of investment in equipment (≤ 10 lakh).
  • Small Enterprises: But in case of small enterprise, you can invest in equipment and furniture purchase more than Rs. 10 lakh but shouldn’t more than Rs. 2 crore (> 10 lakh and ≤ 2 crore).
  • Medium Enterprises: In medium enterprises case, a business holder can invest the amount more than Rs. 2 crore but not more than Rs. 5 crore in equipment sector (> 2 crore and ≤ 5 crore).

Here is the limitation chart for enterprises according to Ministry of Micro, Small & Medium Enterprises

Enterprises Classification

Investment Ceiling Limit on Manufacture Sectors

Investment Ceiling Limit on Service Sectors

For Micro Enterprise

≤ 25 lakh

≤ 10 lakh

For Small Enterprise

> 25 lakh and ≤ 5 crore

> 10 lakh and ≤ 2 crore

For Medium Enterprise

> 5 croe and ≤ 10 crore

> 2 crore and ≤ 5 crore

 

The current classification is based on the investment in plant & machinery for products based companies and equipment for services based organization.

Here we want to inform one thing that recently the government is going revised the definition of MSME, the decision has taken at the Union Cabinet Meeting on classification of MSMEs on the basis of their annual turnover.

They don’t want to make distinction between manufacturing and service unit.

In this proposed amendment, they may want to do the threshold criteria for enterprises; means those enterprises having annual turnover upto Rs. 5 crore would be considered/ termed as Micro, Rs. 5 crore to Rs. 75 crore would be termed as Small and Rs. 75 crore to Rs. 250 crore would be termed as Medium enterprise.

The change would be effective when the proposed amendment to Micro, Small and Medium Enterprises Development Act, 2006 come into effect.

Importance of MSME in India

MSMEs have the pivotal role in nation like India for their growth and development, so that’s why state and central governments have conceptualized to provide the maximum benefits to the enterprises those who are falling under the MSME scheme.

MSME enterprises are the backbone of India which can trigger the economic growth of a developing country like India and also developed countries in the world.

So many of the economists in the world termed the MSMEs as “engine of growth” which plays a key role for development of any country; if I am not wrong, India is heading towards the engine of growth.

MSME is playing an equitable and prominent role for building the development of country’s growth by creating potential employment opportunities for young Indians at a low capital cost.

Why We Should Do MSME Registration?

Acquiring MSME registration certificate is not legally mandatory for a business or enterprise but we will be advised you always that registering your enterprise under MSME scheme will get a variety of several benefits from the government sectors including lower rates of interest, excise exemption scheme, tax subsidies, exemption under Direct Tax Laws, power tariff subsidies, capital investment subsidies, etc.

If you need our assistance, then we can help you to get your MSME registration in Bangalore Karnataka or any other cities in India within a limited time frame.

Benefits of MSME Registration in India

Why should an enterprise register under the Udyog Aadhaar and what are the facilities it will get from MSMED?

Therefore, we explained below briefly some of the important advantages on MSMEs

To encourage the growth of MSME both State and Central Govt. are immensely targeting their incentives, subsidies, and schemes and support packages to the registered MSMEs through MSMED Act, 2006. After registration, any enterprise can be qualified to gather or avail the benefits offered under the MSMED Act.

So the advantages or benefits offered to the MSMEs according to their classification of Micro, Small & Medium sized enterprises.

Here look at some key benefits of MSME registration under the Act of government to the enterprises.

1. Easy Availability of Loans from Banks: All banks are ready to lend the business sectors according to their setup and apart from this, MSMEs are recognized by banks, they offer financial support with lower interest rate as compared to typical business rate.

2. Tax Rebates under the MSMED Act, 2006: MSME registered business may enjoy multiple tax exemption scheme and capital gain tax subsidies from the government.

3. Easy Access to Credit: Mudra Yojana Scheme has introduced by PM Modi which provides loans to MSMEs without security. And enterprises can take the advantage from this scheme to raise their business.

4. Get Benefits from State Governments: Those enterprises that have registered under MSMED Act for them most of the states and union territories offers subsidies on power, taxes, entry to state-run industrials, capital investment subsidies and also exempted from sales tax.

5. Get Benefits from Central Governments: Enterprises can get easy sanction of bank loans on priority sector lending, excise exemption scheme, exemption under direct tax law, lower the rates of interest and support such as reservation, etc. Apart from this central government announces various schemes from time to time for MSMEs where they can get benefit from it and creates an environment for opportunities.

6. 50% Discount on IP Protection: Government will financially support to technology startups for International Patent Protection in Electronics and IT (SIP-EIT) by reimbursement up to 50% of total patent cost, with Rs. 15 lakh limit.

7. Credit Guarantee Fund Scheme: This credit will be eligible to micro and small enterprises covering the credit limit per borrower from Rs. 100 lakh to Rs. 200 lakh as in recent update on 20th February, 2018 by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

8. Capital Subsidy for Technological Upgradation: This scheme is operating for modernization of technological upgradation of Small Scale Industries (SSI) through the Credit Linked Capital Subsidy Scheme (CLCSS). An enterprise can get ceiling loans under this scheme from Rs. 40 lakh to Rs. 1 crore and the rate of subsidy from 12% to 15%.

9. Market Development Assistance for Micro, Small & Medium Enterprises: This scheme helps funding for participating international fair, trade delegations, publicity, etc. The Government will repay 75% of air fare in economic class and 50% of space rental charge for general category and 100% of air fare in economic class and space rent for Women/ SC/ ST entrepreneur.

Documents/ Information Required for MSME Registration in Bangalore Karnataka

  • PAN of the Company/ Individual
  • Aadhaar card of the applicant
  • Total capital investment
  • Date of Incorporation of Company
  • Registered office address of the company
  • Bank details like IFSC Code and  Account Number

How to get the MSME certificate in Bangalore?

We want to clear here one thing that applying for MSME and getting the certificate in Bangalore Karnataka or any other cities in India will be the same process for every state; you have to follow the Udyog Aadhaar registration process to get the UAM (Udyog Aadhaar Memorandum) number in India.

You don’t need to be confused, where to apply and how to apply.

Because all the application process for MSME registration in India would be done completely on online through the help of Udyog Aadhaar portal only i.e. https://udyogaadhaar.gov.in/ which is the official website for MSMEs and startup; is maintained by the government of Ministry of Micro, Small and Medium Enterprises.

You would be happy to know that there are plenty of companies in Bangalore as well as the rest of Karnataka that can help you get an MSME (ministry of micro, small and medium enterprises) certificate and that too within a span of 2 to 5 working days.

This certificate is valid for the lifetime of your organization and both service and manufacturing sector companies can avail the same. There is no limit on the number of companies that can be registered by a single entity. It also helps that these services are rather economical.

MSME Registration Process through Udyog Aadhaar

Here’s look at the 20 key steps to register your business or MSME in Government portal that will have to follow

1. Just visit https://udyogaadhaar.gov.in/UA/UAM_Registration.aspx for new MSME or SSI registration under MSMED Act.

2. Enter Aadhaar Number and Entrepreneur Name as per Aadhaar card and then click on Validate & Generate OTP button, a one time password will be come to your aadhaar registered mobile number. You have to just verify the OTP.

After verifying the OTP, a form will come on same window and you have to fill and select the different fields of that form below the following way

3. In Social Category field, you have to choose one option (General, Scheduled Caste, Scheduled Tribe or Other Backward Class) from the dropdown.

4. In Gender field, the applicant has to select the gender of entrepreneur.

5. In Physically Handicapped field, you have to select the physically handicapped status (Yes or No) of entrepreneur.

6. In Name of Enterprises field, the applicant must have to fill the enterprise name which is known by your customer.

7. In Type of Organization field, the applicant has to choose one of his/her organization name from the radio buttons like Proprietor, Partnership, Company, etc.

8. In PAN Number field, PAN number is required for Co-operative, Private Limited, Public Limited or Limited Liability Partnership. But it is optional for other business type.

9. In Location of Plant Details field, if your organization has multiple plant location, you can add it in one registration by clicking Add Plant button.

10. In Official Address of Enterprise field, the applicant should fill the details appropriate field with complete postal address of the enterprise including State, District, PIN Code, Mobile No and Email.

11. In Date of Commencement field, enter the operation date of your business from which day you’ve started it.

12. In Previous Registration Details (in any) field, if you have already applied Udyog Aadhaar registration for an enterprise and issued a valid EM-I/II by the concerned GM (DIC) as per the  MSMED Act 2006, such number have to mention in appropriate place.

13. In Bank Details field, you must provide your bank account number that is used for running the enterprise and also mention the IFS Code of the bank’s branch office.

14. In Major Activity field, here you have to choose what your enterprise is doing for, either “Manufacturing” or “Service” under Udyog Aadhaar. If your business involves in both type of activities and major portion of work covers in Manufacturing sector and small portion of work covers in Service sector; then select you major activity type as “Manufacturing” and if major portion of work covers in Services and small portion of activity covers in Manufacturing; then  select your major activity as “Services”.

15. In National Industry Classification Code (NIC Code) field, you have to choose multiple National Industrial Classification (NIC) Codes for your all business activities relating to “Manufacturing” or “Service” sector. And here these activities are classified into 3 categories; you should choose it one by one through NIC Code just typing two or more characters of activity in search box.

16. In Person Employed field, here you have to give information on how many employees are working with you and who have been directly paid their salary/ wages by the enterprise.

17. In Investment in Plant & Machinery/ Equipment field, so here you have to enter the total investment (purchase value of items) cost for enterprise.

18. In DIC (District Industry Centre) field, according to the location of enterprise; you have to fill the location of DIC. While filled the DIC location, the column will be active and show options, if is there any DIC is available for that district or not. If there is only one DIC in the district system, it is automatically register your enterprise in the same DIC.

19. In Submit field, the applicant should click on Submit button; where it creates an OTP which will be sent to your Aadhaar linked Mobile Number for registration purpose. You need to enter the OTP on specified field and verify it for application submission purpose.

20. In Final Submit button field, you need to verify the captcha code and then click on Final Submit button. And here your application process for MSME registration is finished now.

And you will get an applied application form of Udyog Aadhaar Memorandum (UAM) bearing with UAN (Udyog Aadhaar Number). Click below on Print button to get it as pdf format for future purpose.

At the same time; just below the Print button, a registration certificate option will be there; by clicking on that, you will get a system generated Udyog Aadhaar Registration Certificate from this.

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How to Change Designated Partner in LLP?

How to Change Designated Partner in LLP?

In India, a partner could be removed from an LLP (limited liability partnership) or she or he could want to resign for a variety of circumstances. However, there are some rules and regulations that have to be followed in this case. The resignation or removal needs to be recorded in the right way and relevant filings have to be made with the Ministry of Corporate Affairs of India. This would make sure that the resignation or removal of the partner would come into effect properly.

Here's look at the simple steps about resigning a designated partner from limited liability partnership (LLP)

Legal procedure to remove a designated partner of LLP

1. Notice of partner's resignation/ removal

2. Change in LLP agreement

3. Intimate to ROC through Form 4 along with amendment of LLP agreement

Resignation and removal of a partner

As per the LLP agreement between partners a partner can stop being a partner. If there are no restrictions in the LLP agreement then a partner can resign just by providing a notice that she or he is resigning within a period of 30 days.

This notice needs to be given in writing to the other partners of the LLP. There are certain situations where a person’s status as a partner in an LLP comes to an end automatically. They may be mentioned as below:

  • In case she or he dies
  • If the partner is found to have lost her or his mental balance
  • If the LLP is dissolved
  • If the partner happens to be declared an insolvent or is adjusted as one

A person will remain a partner in an LLP till the time that the other partners in the same LLP are not notified in a written manner regarding her or his intention to resign.

The same also applies till a notice is provided to the Registrar to that effect.

Liabilities and rights of partners at the time of resignation or removal

In case a person is unable to continue being a partner in an LLP owing to insolvency or death she or he would be entitled to a number of benefits from that entity itself. She or he would receive an amount that happens to be equal to the capital contribution that she or he made when she or he was a partner. Such a former partner would have also a right to a share in the accumulated profits that should be adjusted for accumulated losses provided there are any at all. The date of determination in this case would be the date when the concerned person stopped being a partner in that LLP. Such a partner also has the right to transfer her or his right to share in the company’s profits and losses.     

She or he can also receive distribution that will be provided as per the LLP agreement. In case the partner has resigned or has been removed then the rights of this outgoing partner would be determined as per the provisions that have been mentioned in the LLP agreement. At the same time the former or outgoing partner will also be held responsible for the liabilities suffered by the LLP during her or his tenure. They shall continue and not be discharged under any circumstance whatsoever.

Removing an LLP partner through majority

A person cannot be forced out of her or his position as a partner in an LLP until and unless such rights are bestowed on the other partners by the LLP agreement. In that case Form 4 needs to be filed in order to eject that particular partner.

Filing LLP Form 4

In order to make sure a partner can resign, be removed, or secede from an LLP the firm needs to file the LLP Form 4. This needs to be done within a period of 30 days of the removal, cessation, or resignation of that partner.

The form needs to be signed by a designated partner and should be filed alongwith a certificate that is provided either by a practicing cost accountant or the Company Secretary or a chartered accountant. Whoever provides that certificate needs to certify the fact that the records and books of that LLP are correct and true.

Let's take a look at the process of appointing a partner in limited liability partnership (LLP)

Procedure for adding a designated partner in LLP

1. Notification of appointment of designated partner

2. Apply Digital Signature Certificate (DSC) for new designated partner

3. Apply DIN for incoming designated partner

4. Hold a meeting of all existing partners

5. Pass the resolution in the meeting

6. File the LLP Form 4 along with the amendment of LLP agreement

Adding a designated partner in an LLP

In India an LLP is governed by the rules and regulations that have been mentioned in the Limited Liability Partnership Act, 2008. There are certain steps that have to be followed in order to appoint an individual as a designated partner in an LLP. In the first step the applicant has to apply for a Digital Signature Certificate (DSC). Normally, she or he would be asked to provide the following documents along with the application:

  • PAN (Permanent Account Number) Card
  • e-mail id
  • Aadhaar Card
  • phone number
  • a photo

After this the applicant needs to apply for the DIN (Director Identification Number). Once the applicant gets her or his DSC she or he would have to use the DIN in the form DIR-3. She or he would also have to provide id and address proofs. After the proposed designated partner gets the DIN the other current partners of the LLP would call a meeting.

In this meeting they would pass a resolution whereby they would add the designated partner to the partnership deed. For this a supplementary partnership deed would have to be drafted and it is here that the name of the new partner would be added. After this the incoming partner would provide her or his consent in writing. Once these documents get ready the LLP would need to file the LLP Form 4. This needs to be done within a span of 30 days of appointing the partner. Along with this it would have to furnish the original partnership deed as well as the supplementary one.

Once all these forms have been filed the designated partner’s name would be added. It would also be visible on the official website of the Union Ministry of Corporate Affairs of India. If the LLP fails to file Form 3 and Form 4 within the stipulated period of 30 days it would have to pay an additional fee of INR 100 for each day of delay.

Conclusion

These days, it is being seen that LLP has become the company type of choice for many businesses and much of this has to do with its convenient nature as well as lack of compliances.

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Also Read:

Procedure to Add/ Remove a Director in Pvt Company

How to Shift or Change the Registered Office Address a of Company?