Drafting Supplementary Agreement

• A supplementary LLP agreement must be prepared
• It should clearly mention revised partner contributions
• All partners must consent to the changes in writing
• Agreement must follow format prescribed under LLP rules
• Execution must be done on stamp paper as per state laws

Passing of Resolution

• Partners should pass a resolution approving contribution change
• Resolution must record new amounts and effective date
• Both financial and non-financial contributions can be updated
• Resolution becomes a legal basis for filing with RoC
• It must be documented and signed by designated partners

Filing Form 3 with RoC

• Form 3 must be filed online with Ministry of Corporate Affairs
• Details of changed contribution must match the agreement
• Form should be filed within 30 days of agreement execution
• Digital signatures of designated partners are required
• MCA portal generates SRN to track the status of filing

Updating Internal Records

• LLP must update its internal capital records and ledgers
• Contributions must be reflected in the balance sheet
• Partners must acknowledge updated capital account details
• Changes must be shown in next financial statement
• Proper documentation helps in future audits and inspections

Compliance and Penalty Avoidance

• Delay in filing Form 3 may lead to additional fees
• Non-disclosure can cause regulatory issues or legal penalties
• Ensure all documents are accurate and duly signed
• Keep acknowledgments and receipts for reference
• Regular updates help maintain compliance and transparency