
The Limited Liability Partnership Registration is also a type of partnership firm with the features of the company. It has partners in it just like a partnership firm has but there is one major difference between a firm and LLP, in a firm the maximum number of partners is restricted to 50 only but in the case of LLP there is no maximum limit. The LLP can remove or add a partner from the LLP during the tenure of its business.
Generally, in a partnership firm if any partner dies or he gives his resignation then the partnership gets dissolved but in LLP the death of the partner or resignation of the partner doesn’t affect the life of the LLP. One of the main features of LLP is perpetual succession which means partner may come and may go but the LLP goes forever as well as it has a separate legal entity this makes the LLP and its partner different from each other means the LLP has its own identity and it has right to hold property, make contracts, taking investment etc. on its name, these things make LLP better than a partnership.
In LLP there is a proper procedure to remove a partner, a partner or designated partner cannot get removed by just giving their resignation letter or by termination letter, an intimation to the ROC is also required, without it the procedure of removal cannot get completed. The removal of the partner also affects the LLP agreement as the agreement will also get altered after the removal of the partner. For removing any partner from the LLP there is a provision mentioned in the LLP Act, 2008 which has to be followed. But before the removal of any partner or designated partner not only the consent of other partners is required but the provision and power for removal of the partner are also expressly mentioned in the agreement.