Why adding or removing a Partner or a Designated Partner in an LLP may be required?

There could be various reasons for the same. For instance:

  • Appointing people with right skill set;
  • Infusion of fresh contribution/ investor;
  • Change in existing understanding/ terms of the Partners;
  • Resignation of existing Partner or Designated Partner;
  • Incapability of existing designated partner to take charge; etc.
    The removal may be voluntarily (i.e., at the Partner’s own volition) or through vacation by other Partners.