As businesses grow and evolve, rebranding may become essential, often necessitating a change in the name of the Limited Liability Partnership (LLP). This guide provides a comprehensive overview of the process and legal requirements involved in changing the name of an LLP in India.

Reasons for Changing the LLP Name

There are several reasons why an LLP might opt for a name change, including:

• Rebranding: To better align with new business strategies or market positioning.
• Expansion: Reflecting the inclusion of new business activities or geographical expansion.
• Correction: Rectifying any errors in the initial name.
• Legal Compulsion: Due to objections raised by the Registrar of Companies (ROC) or other regulatory authorities.

Steps to Change the LLP Name

1. Partner Approval: The first step is to obtain the consent of all partners. This should be documented in the minutes of the partners’ meeting.
2. Name Reservation: Apply for the name reservation through the LLP-RUN (Limited Liability Partnership-Reserve Unique Name) service available on the Ministry of Corporate Affairs (MCA) portal. Ensure the new name is unique and adheres to the naming guidelines provided by the MCA.
3. Passing Resolution: Once the name is approved, pass a resolution to effect the name change. This resolution should be documented and signed by all partners.
4. Filing Form 5: File Form 5 (Notice for Change of Name) with the MCA within 30 days of passing the resolution. Attach the following documents:
   • Certified copy of the resolution passed.
   • LLP agreement with the name change (if amended).
   • Fee payment receipt.
5. Approval by ROC: The ROC reviews the application and, upon satisfaction, issues a new Certificate of Incorporation with the changed name.

Updating Records

After receiving the new Certificate of Incorporation, update the following records to reflect the name change:

• LLP Agreement: Amend the LLP agreement to incorporate the new name.
• PAN and TAN: Apply for updated PAN and TAN cards with the new name.
• GST Registration: Update the GST registration details.
• Bank Accounts: Inform the bank and update account details.
• Licenses and Permits: Update all licenses and permits held by the LLP.
• Official Stationery: Update letterheads, business cards, signage, and other stationery.

Conclusion

Changing the name of an LLP is a structured process that requires meticulous documentation and adherence to legal requirements. By following these steps, businesses can ensure a smooth transition and maintain compliance with regulatory standards.