Investigation security requirement for LLPs mandates scaled security deposits to fund inquiry costs under partners' application. Partners seeking an investigation into an LLP's affairs must submit an application together with security for investigation costs, calculated on a turnover-based scale tied to the Statement of Account and Solvency for the immediately preceding financial year, subject to a maximum of twenty five lakh rupees; where no such Statement exists, the Central Government may fix the security amount.
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Provisions expressly mentioned in the judgment/order text.
Investigation security requirement for LLPs mandates scaled security deposits to fund inquiry costs under partners' application.
Partners seeking an investigation into an LLP's affairs must submit an application together with security for investigation costs, calculated on a turnover-based scale tied to the Statement of Account and Solvency for the immediately preceding financial year, subject to a maximum of twenty five lakh rupees; where no such Statement exists, the Central Government may fix the security amount.
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