LLP Name Change

LLP Name Change

When a Limited Liability Partnership (LLP) decides to change its name, it involves a formal process that needs to be followed. The LLP name change typically requires approval from the Ministry of Corporate Affairs (MCA) in India. Here’s a general overview of the steps involved in changing the name of an LLP:

  1. Board Resolution: The partners of the LLP need to convene a meeting and pass a board resolution approving the name change. The resolution should also authorize a designated partner to make the necessary applications and filings with the MCA.

2. Availability of Name: The LLP needs to check the availability of the new name they wish to change to. The new name should be unique and not similar to any existing LLP or company name. The availability of the name can be checked on the MCA portal.

  1. Application with MCA: Once the new name is finalized and approved by the partners, an application for the name change needs to be filed with the MCA. The application should include the necessary documents and forms prescribed by the MCA.
  1. Approval: The MCA will review the application for the LLP name change. If everything is in order and the new name complies with the regulations, the MCA will approve the name change.
  1. Updating Records: After receiving approval, the LLP needs to update all its official documents, stationery, website, and other records with the new name. The LLP also needs to inform all relevant authorities, banks, vendors, and customers about the name change.
  1. Certificate of Incorporation: Once the name change is approved, the LLP will receive a new Certificate of Incorporation reflecting the new name.

Under which act LLP Name Change?

The process of changing the name of a Limited Liability Partnership (LLP) in India is governed by the Limited Liability Partnership Act, 2008. This act provides the legal framework and guidelines for LLPs operating in India, including the procedures and requirements for making changes to the LLP’s name. By following the provisions outlined in the LLP Act, an LLP can successfully undertake a name change process in compliance with the regulatory requirements.

Who is eligible for LLP Name Change ?

To be eligible for a Limited Liability Partnership (LLP) name change in India, the LLP must adhere to certain criteria and guidelines set forth by the Ministry of Corporate Affairs (MCA). Here are the key eligibility requirements for an LLP Name Change.

  1. Active LLP: The LLP seeking a name change must be an active entity, meaning that it should not be in the process of winding up or have any pending legal issues that could affect the name change process.
  2. Compliance with LLP Act: The LLP must be compliant with the provisions of the Limited Liability Partnership Act, 2008, and any rules and regulations governing LLPs in India.
  3. Board Approval: The proposed name change must be approved by the partners of the LLP through a board resolution. The resolution should authorize a designated partner to initiate the name change process.
  4. Availability of New Name: The new name chosen for the LLP must comply with the naming guidelines specified by the MCA. The name should not be identical or similar to the names of existing companies or LLPs.
  5. No Objection: If required, the LLP should obtain a No Objection Certificate (NOC) from regulatory authorities or any other relevant stakeholders before proceeding with the name change.
  6. Submission of Required Documents: The LLP must submit all the necessary documents, including the application for name reservation, consent of partners, identity proofs, address proofs, board resolution, and any other supporting documents as specified by the MCA.

What are the benefits we get from LLP Name Change ?

Changing the name of a Limited Liability Partnership (LLP) can offer several benefits and opportunities for the business. Here are some advantages that can be gained from an LLP name change:

  1. Re-branding and Image Enhancement: A name change can help rebrand the LLP and create a fresh identity, which can lead to improved market positioning and enhanced public perception.
  2. Reflecting Business Evolution: If the LLP has evolved its services, products, or target market, a name change can better reflect these changes, ensuring alignment with the current business focus.
  3. Competitive Edge: A new name can differentiate the LLP from competitors and attract new clients or partners who may be more aligned with the redefined brand image.
  4. Legal Protection: Changing the name can provide legal protection by avoiding confusion with existing businesses and protecting the LLP from potential trademark or copyright issues.
  5. Strategic Growth: A name change can signal growth, innovation, or a new direction for the LLP, attracting potential investors, customers, and business opportunities.
  6. Improved Marketing and Communication: A new name can enhance marketing efforts, making it easier to communicate the LLP offerings and value proposition to the target audience.
  7. Enhanced Credibility: A well-thought-out name change can enhance the credibility and professionalism of the LLP, instilling confidence in clients, partners, and stakeholders.
  8. Adaptation to Market Trends: Changing the name can help the LLP stay relevant in a dynamic market environment, adapting to current trends and consumer preferences.

What are the required documents for LLP Name Change ?

To change the name of a Limited Liability Partnership (LLP) in India, you will need to submit the following documents to the Registrar of Companies (ROC) as part of the name change process:

  1. Resolution for Name Change: A resolution passed by the partners of the LLP approving the change of name. This resolution should be signed by all designated partners.
  2. Form LLP-5: Form LLP-5 needs to be filed with the ROC within 30 days of passing the resolution for the name change. This form includes details of the LLP, the old name, the new name, and other relevant information.
  3. Form LLP-3 (Amendment to LLP Agreement): The updated LLP Agreement reflecting the new name and copy of resolution passed by the partners approving the amendment to the LLP Agreement.
  4. Revised LLP Agreement: A copy of the revised LLP agreement reflecting the new name of the LLP. The agreement should be updated to include the new name and any other necessary changes resulting from the LLP Name Change.
  5. Consent of Partners: Consent letters from all partners of the LLP agreeing to the name change and any associated modifications to the LLP agreement.
  6. Certificate of Incorporation: The original Certificate of Incorporation of the LLP issued by the ROC.
  7. Other Supporting Documents: Any other documents or information as required by the ROC or specified in the LLP Act, 2008, to process the name change application.

What are the specific steps to change an LLP name ?

To change the name of a Limited Liability Partnership (LLP) in India, you need to follow these specific steps as per the provisions of the Limited Liability Partnership Act, 2008:

  1. Check Name Availability: Verify the availability of the proposed new name for the LLP on the Ministry of Corporate Affairs (MCA) website. The new name should comply with the naming guidelines provided by the MCA.
  2. Pass Resolution: Hold a meeting of the partners and pass a resolution to approve the name change. The resolution should be duly signed by the designated partners of the LLP.
  3. File Form LLP-5: Prepare and file Form LLP-5 with the Registrar of Companies (ROC) within 30 days of passing the resolution for the name change. Include the necessary documents such as the resolution, consent of partners, and the revised LLP agreement.
  4. Approval from ROC: The ROC will review the application for the name change. If all requirements are met, the ROC will approve the name change and issue a fresh Certificate of Incorporation with the new name.
  5. Update LLP Agreement: After receiving the approval and updated Certificate of Incorporation, make the necessary amendments to the LLP agreement to reflect the new name of the LLP.
  6. Update Other Registrations: Update all relevant authorities, banks, vendors, and stakeholders about the name change to ensure seamless transition and compliance with legal requirements.

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