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Actual initial contribution is not same as mentioned in LLP Agreement

LLP 398 views 2 replies

In the LLP Agreement of an LLP, it is mentioned:

The initial contribution of the LLP shall be Rs. 1,00,000 (Rupees One Lakh only) which shall be contributed by the partners in the following proportions :

First Party : Rs. 50,000.

Second Party : Rs. 50,000.

 

But the actual initial contribution of the partners are:

First Party : Rs. 80,000.

Second Party : Rs. 20,000.

 

Is there any need to file Form-3 or ammend the LLP Agreement in this case? Is there will be any penalty?

Replies (2)

Amendment should be done to be on safe side. 

But the total obligation of Contribution from partners didn't exceed.


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