Notice of Cessation as Partner in LLP

Notice of Withdrawal (LLP – Limited Liability Partnership)

FORM 4 (See rule 22)

Notice of Cessation

To,

The Designated Partners [LLP Name]

LLPIN: [LLP Identification Number]

[Registered Office Address]

Subject: Notice of Cessation as Partner of [LLP Name]

Dear Sir/Madam,

I, [Your Full Name], holding DIN/DPIN [Number], currently a partner in [LLP Name] (LLPIN: [Number]), hereby serve this notice of my intention to cease to be a partner of the said Limited Liability Partnership.

Details:

• LLP Name: [LLP Name]
• LLPIN: [Number]
• My DIN/DPIN: [Number]
• Date of becoming Partner: [Date]
• Current Capital Contribution: Rs. [Amount]
• Current Profit Share: [Percentage]

Date of Cessation: My cessation as a partner shall be effective from [Date], in accordance with Clause [Number] of our LLP Agreement dated [Date].

Reason for Cessation: [Brief reason: Personal reasons/Pursuing other opportunities/Retirement/Health reasons/Business restructuring]

Notice Period Compliance: This notice complies with the [Number] days/months notice period stipulated in our LLP Agreement.

Settlement Requirements:

I request the designated partners to:

1. Capital Account Settlement:
   • Calculate my capital account balance as on the cessation date
   • Include my share of profits up to the cessation date
   • Adjust for any drawings or advances
2. Profit Distribution:
   • Compute and credit my profit share up to the effective cessation date
   • Provide a detailed calculation showing the basis of computation
3. Goodwill Payment (if applicable):
   • Arrange valuation by an independent Chartered Accountant
   • Calculate my share of goodwill as per the LLP Agreement
4. Outstanding Amounts:
   • Clear any reimbursements or expenses due to me
   • Adjust any amounts payable by me to the LLP
5. Documentation:
   • Prepare and execute the supplementary LLP Agreement
   • File Form 4 with the Registrar within 30 days of cessation
   • Update LLP records and inform stakeholders

Transition Support: I commit to:

• Complete handover of my responsibilities
• Provide necessary assistance during the transition period
• Cooperate in client/stakeholder communication
• Make myself available for queries for a reasonable period

Confidentiality and Non-Compete: I acknowledge my continuing obligations under the confidentiality and non-compete clauses of our LLP Agreement, which shall survive my cessation.

Rights Post-Cessation: I understand that post-cessation:

• I will have no authority to bind the LLP
• I will not be liable for LLP obligations arising after the cessation date
• I retain rights to my capital and profit share as settled
• My indemnification rights for acts during my partnership continue

Mode of Payment: Please arrange payment of my settlement amount as follows:

• Bank Name: [Bank Name]
• Account Number: [Account Number]
• IFSC Code: [IFSC Code]
• Account Holder Name: [Name]

Or through any other mutually agreed payment mode within [Number] days of cessation.

Communication Details: All future correspondence may be sent to:

• Address: [Your Permanent Address]
• Email: [Your Email]
• Phone: [Your Phone Number]

Request for Meeting: I request a meeting with the designated partners within [Number] days to discuss the cessation process, settlement terms, and transition arrangements.

I thank you for the professional association and wish the LLP continued success.

Kindly acknowledge receipt of this notice and provide a timeline for the settlement process.

Yours faithfully,

[Your Signature]

[Your Full Name]

DIN/DPIN: [Number]

Date: ________________

Enclosures:

1. Copy of LLP Agreement (for reference)
2. Copy of identification documents
3. [Any other relevant documents]

Acknowledgment:

Received the above notice on behalf of [LLP Name] on [Date].

Designated Partner

Name: ________________

Signature: ________________

DIN/DPIN: ________________

Date: ________________