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of <h1>Clause 47: LLP Partners Must Preserve and Produce Documents for Inspectors; Non-Compliance Leads to Fines and Penalties.</h1> Clause 47 of the Limited Liability Partnership Bill, 2008 mandates that designated partners must preserve and produce all relevant documents to an inspector authorized by the Central Government. The inspector can demand information from other entities if necessary for investigation, keeping documents for up to 30 days. Inspectors can examine individuals under oath and require personal appearances. Failure to comply, such as not producing documents or refusing examination, results in fines ranging from two thousand to twenty-five thousand rupees, with additional daily penalties. Examination notes must be documented, signed, and provided to the examined individual for use as evidence.
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