Compounding of offences: procedure allows conditional settlement and filing requirements to avoid or notify prosecution. Applications to compound LLP offences must be filed with the Registrar in the prescribed form, who forwards them with comments to the Central Government. Compounding before prosecution bars subsequent prosecution; compounding after prosecution requires the Registrar to notify the court. The LLP must intimate compounding to the Registrar within seven days. The Central Government may condition compounding on filing or registering outstanding returns, statements of account and solvency, or other documents and on payment of required and additional fees within a specified period.
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Compounding of offences: procedure allows conditional settlement and filing requirements to avoid or notify prosecution.
Applications to compound LLP offences must be filed with the Registrar in the prescribed form, who forwards them with comments to the Central Government. Compounding before prosecution bars subsequent prosecution; compounding after prosecution requires the Registrar to notify the court. The LLP must intimate compounding to the Registrar within seven days. The Central Government may condition compounding on filing or registering outstanding returns, statements of account and solvency, or other documents and on payment of required and additional fees within a specified period.
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