Change In Partnership Deed
Change In Partnership Deed – Classic Partners LLP
Classic Partner – LLP Compliance & Advisory Services
What is Change In Partnership Deed?
A Partnership Deed is the legal document that defines the rights, duties, and profit-sharing ratios of partners in a partnership firm. Over time, business needs may require modification in the deed—such as changes in capital contribution, admission or retirement of partners, change in profit ratio, or alteration of business activities.
Any such change must be documented through a Supplementary Partnership Deed and, if the firm is registered, must be filed with the Registrar of Firms to ensure legal recognition.
Reasons for Change in Partnership Deed
Admission of a new partner
Retirement or resignation of a partner
Change in capital contribution
Alteration in profit/loss sharing ratio
Change in firm’s business activity or objectives
Change in firm’s registered office address
Change in duration (fixed/partnership at will)
Documents Required
Original Partnership Deed
Draft of the Supplementary Deed signed by all partners
Consent letters of new/retiring partners (if applicable)
PAN card & ID proofs of partners
Address proof of business premises
Application form to Registrar of Firms (if firm is registered)
Procedure for Change in Partnership Deed
Draft Supplementary Deed – Prepare a deed reflecting the change (profit ratio, partners, capital, etc.).
Execution – Get the deed signed by all partners on stamp paper of appropriate value.
Notarization – Notarize the deed to authenticate it.
Filing with Registrar of Firms (if registered) – Submit the supplementary deed and prescribed form with fees.
Update Records – Update PAN, GST, Bank, Shops & Establishment Certificate, and other licenses.
Legal Impact
The new deed supersedes earlier provisions for the matters amended.
Partners are legally bound by the updated terms.
Non-registration of changes may affect enforceability of rights in case of disputes.
Why Choose Classic Partner?
Drafting and vetting of Supplementary Partnership Deeds
Advisory on legal and tax implications of changes
Filing with Registrar of Firms and allied authorities
End-to-end assistance with bank, GST, PAN and other updates
Looking to modify your Partnership Deed?
Classic Partner ensures smooth drafting, legal compliance, and quick updates for all partnership changes.
