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Change in Partners

All about Change in Partners

Partners of an LLP or Partnership Firm may come and go but firm should continue to exist, change in partners need compliance of procedures subject to LLP or Partnership agreement. The requirement to change of Partner may arise of various reasons:-

1) Admission/Removal/Resignation/Retirement of partners;
2) Change of responsibilities or engagements of the Partner(s);
3) Disability to perform to reach the expectations laid down under Agreement or by Partners;
4) Change of terms of agreement between Partners and firm;
5) Change in designation of Partner(s)

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