The Limited Liability Partnership (LLP) Agreement is the charter document that regulates the rights, duties, and obligations of the partners and the management framework of the LLP. As businesses evolve, it often becomes necessary to alter the LLP Agreement to accommodate changes such as admission or resignation of partners, modification of profit-sharing ratios, change in management structure, or revision of capital contribution.

Any alteration must be mutually agreed upon by the partners and executed through a supplementary LLP Agreement. Once the amendment is drafted and signed, it must be filed with the Registrar of Companies (ROC) by submitting Form 3 within 30 days of the change.

Alterations may cover various aspects like business activities, decision-making procedures, partner rights and liabilities, or administrative provisions. Ensuring proper documentation and ROC compliance is crucial to make the alterations legally valid.

Updating the LLP Agreement keeps the governance of the partnership flexible, transparent, and compliant with the Limited Liability Partnership Act, 2008, while safeguarding the interests of all partners involved.