LLP Name Change
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LLP Name Change
The name of the business is a very important part in Limited Liability Partnership Registration as it is not only a name but it is also the face of the business. The name is mentioned everywhere like in the documents, letterhead, pamphlet, banners, board, agreement, etc. The name is approved by the ROC and once it is approved it will be valid till the life of the LLP till its gets changed. The name of the LLP is always ending with the word “LLP” which represents its identity that it is a limited liability partnership which is registered with the MCA. In the current situation, the LLP is a very popular business model in India and it is easy to incorporate and easy to run.
During the course of LLP, the LLP can change its name with the prior consent of the partners or under the direction of the Central Government or there can be any other reason for the name change. The name changing procedure cannot get completed without the approval of ROC. The LLP has to follow the rules or regulations framed under the Limited Liability Partnership Act, 2008 for the name change.
Grounds of Name change:
- On Government Direction: The procedure laid down under section 17 of the LLP Act, 2008
Why: If the Central Government is satisfied that the LLP has been registered with the name which is identical or similar to the name of the existing company or LLP or resembles the registered trademark then the CG may direct LLP to change the name.
WHEN: Once the direction is issued by the CG for the name change then such changes shall be completed within 3 months or such period as may be specified by the CG
CONSEQUENCES: If the LLP fails to comply with the direction then there is a penalty on LLP which shall not be less than Rs. 10000/- but which may extend to Rs. 500000/- and on every designated partner minimum of Rs. 10000/- which may extend to Rs. 100000/-
- On its own (suo-moto): Section-19 of the LLP Act, 2008 has the provisions for the name change with the consent of the partner. But before starting the name changing process the provision to alter the name must be mentioned in the LLP agreement
Why: The LLP can change its name on its own during the following scenario:
- Introduction of the new brand
- Changing in the business activity
- On the direction of the partners, etc.
When: Once the partners give their consent for the name change and the name application is filed to the ROC and the name is also approved by them then within 3 months the procedure should be completed.
CONSEQUENCES: If the validity of the name is expired and the procedure is not completed then the name will get cancelled and to start the name changing process a new name application shall be filed and it will cost extra.
Documents Required For LLP Name Change
- Consent letter of the partners
- Copy of resolution passed in the meeting of the partners
- Copy of Trademark certificate (if the name is registered under Trademark Act)
- NOC from the owner of the trademark, if it is registered with any other person
- Notice of Name Change
- New Names.
- LLP agreement
- Supplementary Agreement
Procedure To Change The Name Of LLP
Step 1 - Take Partner’s Consent
In the meeting of the LLP the consent should be taken for the name change of the LLP and it should be passed in the form of resolution.
Step 2 - Authorizing The Designated Partner
In the same meeting authorize any designated partner to take all steps for alteration of the name change means that the designated partner will authorize to sign, submit the documents, deed, return, form to the ROC and other relevant authority.
Step 3 - Name Reservation
After getting the consent of the partner the name reservation application can be filed to the ROC. Once the name is approved the further process will be started. But before filing the name reservation application it should be checked that the name is available or not and it can be checked on the MCA site.
Step 4 - Filing Of Form-5
Once the name is approved the notice for the name changes shall be filed to the ROC within 30 days from the date of name reservation. This form will be submitted along with the consent of partners and notice of name change and requisite fees.
Step 5 - Filing Of Form-16
If the Registrar is satisfied with the application for the name change and no objection is raised by him then he will issue a fresh certificate of name change in form-16.
Step 6 - LLP Supplementary Agreement
After receiving the certificate of name change, the same should be executed in the supplementary agreement. In the supplementary agreement, it should be mentioned that the name of the LLP is changed from old name to new name. And this agreement shall be notarized in the stamp paper of Rs. 100/- or such amount as may be specified under State Stamp Act.
Step 7 - Filing Of Form- 3
Once the supplementary agreement is executed then it should be submitted to the ROC in form-3 for its approval. Once it is approved the name change process will get completed and after that, the LLP can replace its old name with the new name.
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LLP - Name Change @ Rs 4999/- Only
Frequently Asked Questions
Generally, it is not mandatory to change the name of the LLP but if any direction is issued by the Central Government then the LLP has to change its name. The procedure for name change has to be completed within 3 months from the date of issuance of direction.
Yes, the name approval depends upon the satisfaction of the Registrar. If the registrar is not satisfied with the name application, they may reject the name application
The grounds of name rejection are:
- If the name is identical or similar with the existing company or LLP or trademark; or
- The name may hurt or against any class of citizen of India; or
- Against any religion; or
- Used any abusive language; or
- Against the national security; or
- Used any prohibited word; or any other reason as may be deemed fit by the registrar
Yes, after receiving the certificate of the name change from the registrar it is necessary to alter the LLP agreement and shall execute supplementary LLP agreement regarding such change and the same should be submitted to the ROC for its approval.
Normally, the value of stamp paper of Supplementary LLP Agreement is Rs. 100/- but the amount may vary because the value of the agreement is specified under State Stamp Act. And the value of stamp paper can be different from state to state because every state has their Stamp Act and, in this act, they mention the value of stamp paper according to their law.
Yes, no changes can take place in LLP without prior approval of ROC. therefore, for alteration of name the application should be filed to the ROC in whose jurisdiction the registered office of the LLP is situated.
No, it is not necessary to have the trademark certificate or trademark application number for alteration of name. But if anyone has the trademark certificate it will get easy to obtain the name approval.
Before filing a name approval application, it should be remembered that the name should have the following features:
- It should be unique
- Not similar or resemble or identical with the existing company or LLP or trademark
- Not contain and abusive language
- Not against the national interest
- Not used any prohibited word, etc.
Certain forms need to be filed to change the name of LLP like:
- RUN-LLP: For name reservation
- FORM-5: The notice for the name change
- FORM-3: For the approval of supplementary LLP agreement.
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