Remove a Designated Partner

“Nidhi” is a Hindi word, which means finance or fund. Nidhi means a company which has been incorporated with the object of developing the habit of thrift and reserve funds amongst its members and also receiving deposits and lending to its members only for their mutual benefit.

Cost Of Removing a Partner

Get started @3,999.00

Time Taken

Company Registration in just 5-10 Days

Documents Required

List of Documents / IDs for registration

Company Cost Breakdown

DOCUMENTS REQUIRED

Digital Signature

DSC Of Partners

LLP Agreement

LLP Agreement

Frequently Asked Questions

  • What is the liability of a ceased partner in an LLP?

    The designated partner on his cessation is discharged from all the liabilities, on filling the notice of the same with the registrar.

  • What are the rights of the designated partner on his cessation?

    The formerly designated partner is entitled to receive:

    • an amount equal to the capital contribution, and
    • his share in the accumulated profits of the LLP
  • What is the time limit to intimate the registrar about the cessation of the designated partner?

    LLP has to intimate such changes to the registrar within 30 days from the date of cessation of the designated partner.

  • In what circumstances an existing partner cease to be a partner of an LLP?
    • When the LLP get dissolved
    • On the death of the designated partner
    • When a partner has an unsound mind