Limited Liability Partnership (LLP)

LLP is referred as Limited Liability Partnership in which some or all partners have limited liability. It therefore can exhibit elements of partnerships and corporations. One partner is not responsible or liable for another partner’s misconduct or negligence. It is basically an alternative corporate business vehicle that syndicates the flexible assembly of a company with the benefits for its associates of limited liability. LLP is a body corporate that can continue its existence even after the retirement, insanity or even death of one or more partners.

The rights and duties of all partners are governed by an agreement between them. Limited liability partnerships cannot be formed for charitable or non-profit purposes. It approximately takes fifteen days to complete the entire process of obtaining a digital signature certificate and LLP registration. However, there are some steps to register of an LLP suchlike: documents of partners that must be kept ready for submission, PAN card/ID proof of partners, photo, residence proof of partners, documents of the company that must be kept ready for submission. Yet, the LLP agreement is to be printed on a stamp paper, the value of which differs for every state. LLCs also have fewer corporate formalities and greater tax flexibility. In most cases, the LLC will guard your individual assets from claims against the business, including lawsuits. There is also the tax benefit to an LLC.

Any changing in the Board of Directors (BD) of a company, whether appointing a new director or removing a director from the BD- are governed as per the provisions of Companies Act, 2013 and rules made thereunder.

1. Minimum no of directors

• As per Section 149 of the Act, every company must have a board of directors- consists of either an individual or a minimum of two directors.

2. Resident director

• As per the provisions of Section 149(3), every private limited company must have at least one director who has stayed in India for a total period of not less than one hundred and eighty-two days in the previous calendar year.

DIN KYC Filing is known as Director Identification Number is a yearly compliance filing by all the DIN holders. In simple words, it is a unique identification number given to a person wanting to be a director or an existing director of a company.

Step-by-Step process goes like:

• downloading the form,
• fill in the details,
• furnish the required details,
• pan verification,
• update contact details and verify OTP,
• authentication of e form,
• SRN generation and email communication.

Every person is given DIN as on the 31st March of every financial year as per these rules, one has to submit an e-form DIR KYC to the central government on or before 30th April of immediate next financial year.

Full guide for filing KYC:

• Details of nationality and citizenship details,
• Permanent account number,
• Voters identity card,
• Driving license,
• Aadhar card,
• Personal email address and
• Residential address.

There are few attachments for DIN KYC Filing that are necessary to be made i.e. proof of permanent address, conditional attachments, copy of passport and proof of personal address. Lastly, upon the successful submission of the e-form, an SRN will be generated for the user this will be used for future correspondence with the MCA. You will get the approval for the receipt which will be sent to the personal email id of the applicant.

Before knowing how to change the company address, it’s important for you to understand what the company address is? The company’s registered office address is the place where all the important documents and communications are sent and received. And, its address can be varying from its corporate office, corporate branches, and administrative office and so on. Apart from that, your authentic company address must be registered with the MCA within 30 days of the business incorporation. Whenever you want to change your registered company address, it must notify the ROC within the prescribed time limit. A company registered under the Companies Act, 2013 or and LLP can easily change or modify their current office address.

The office address can change in 3 different circumstances, such as –

1. Those companies who wish to change their office address within the same state or village of the state- they need to file Form INC-22 along with the address change fees. Some documents are also required, such as –

• Proof of registered office address of the company
• NOC from the owner of new premises or copy of property ownership documents
• Copy of bills such as electricity bill, water bill, etc.

2. Those companies who wish to change their office address within the same state, they have to pass a change of registered office Special Resolution. After accepting the special resolution, they have to file the MGT-14 and INC-22 form within 30 days of passing it.

3. Those companies who wish to change their registered office addresses from one state to another, they have to amend its Memorandum of Association by passing a Special Resolution. They also need to submit some documents, such as –

• Copy of Special Resolution passed to amend the MOA.
• Copy of Memorandum of Association and Articles of Association of the company.
• Copy of Notice of general meeting with the statement of explanation.
• Copy of Minutes of Meeting of the General Meeting.
• Details of debenture holders and creditors of the company.

You may contact Vedkee Associates or email for further discussion.