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of <h1>Section 47: LLP Partners Must Preserve and Produce Documents for Government Inspectors or Face Fines and Daily Penalties.</h1> Section 47 of the Limited Liability Partnership Act, 2008 mandates designated partners and partners of a limited liability partnership to preserve and produce relevant documents for an inspector authorized by the Central Government. They must assist in investigations by providing necessary information and documents. Inspectors, with government approval, can also request information from other entities. Documents can be retained for 30 days, with provisions for return or re-examination. Inspectors may examine individuals under oath, and non-compliance with these duties can result in fines ranging from two thousand to twenty-five thousand rupees, with additional daily penalties for continued non-compliance. Examination notes are documented and provided to the examined individual.
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