An individual or someone can be partner or associate of LLP who is higher than the age of 18. Alteration of partner, an individual who is minor and negligible as per the law or in lawful method or approach is subjected as a minor partner. He or she may not be admitted and accepted as a partner is a firm. But he or she may acquire and obtain all the benefits and advantages of partnership.
In the agreement in Alteration of partner the nature of business or commerce activities, actions, performance, responsibilities, compulsion, rights, duties, and obligations of partners and collaborators are mentioned. The change in partners or collaborators and their details or information’s can be pretentious or affected only after the approval and acceptance from the Ministry of Corporate Affairs. Filingindia is a finest or superlative way to get the agreement and to get the consultancy in just short or the reliable period of time.
Who can enter into partnership?
A minor partner cannot enter into a contract as per the act section 20 of Partnership. Every person who is the age of majority as per the law can become a partner in a firm. Two or people can become business partners either by formal written and signed partnership agreements.
Procedure to Add of Partner:
· Obtain DSC (Digital Signature certificate) of concern person.
· Obtain DIN of Proposed partner.
· Pass resolution to effect change.
· Execute Supplement Deed.