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Increase in Authorised Contribution LLP
To fuel business growth and achieve its objectives, every company requires capital. If an LLP needs additional funds for expansion or development, it must follow the procedures outlined in the LLP Agreement and the LLP Act, 2008 to increase the total capital contribution.
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1: Obtain Partner Approval for Capital Increase
The partners must convene a meeting as per the provisions of the LLP Agreement to discuss and approve the proposed increase in the capital contribution. Once the decision is made, it must be documented in writing and signed by all partners to confirm their agreement.
2: Draft and Amend the LLP Agreement
Following the partners’ written consent, the next step is to amend the LLP Agreement. This amendment should reflect the increased capital contribution and outline how the contributions will be allocated among the partners.
3: Submit Forms to the Registrar of Companies (RoC)
The amended LLP Agreement, along with the written consent of the partners, must be filed with the Registrar of Companies (RoC) using Form 3. This ensures the updated capital structure is officially recorded.
By completing these steps, the LLP can increase its capital contribution in a structured and legally compliant manner.