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of <h1>Section 30 of LLP Act: Unlimited Liability for Fraudulent Acts, Possible Imprisonment, and Heavy Fines for Partners.</h1> Section 30 of the Limited Liability Partnership Act, 2008, addresses unlimited liability in cases of fraud. If a limited liability partnership (LLP) or its partners act with intent to defraud creditors or for any fraudulent purpose, their liability becomes unlimited for the LLP's debts or liabilities. If a partner commits such an act, the LLP is equally liable unless it proves the act was without its knowledge or authority. Individuals knowingly involved in fraudulent business activities face imprisonment up to five years and fines between fifty thousand and five lakh rupees. Additionally, the LLP and involved parties must compensate for any losses caused by their fraudulent conduct unless the LLP was unaware of the fraudulent acts.
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