Penalty for contravention: personal and partnership liability imposed for breaches under section 25 after amendment. The amendment substitutes subsections (4) and (5) of section 25 to provide that if the limited liability partnership contravenes sub section (2), the LLP and each designated partner shall be liable to a penalty of ten thousand rupees, and if the contravention of sub section (1) is made by any partner, such partner shall be liable to a penalty of ten thousand rupees.
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Provisions expressly mentioned in the judgment/order text.
Penalty for contravention: personal and partnership liability imposed for breaches under section 25 after amendment.
The amendment substitutes subsections (4) and (5) of section 25 to provide that if the limited liability partnership contravenes sub section (2), the LLP and each designated partner shall be liable to a penalty of ten thousand rupees, and if the contravention of sub section (1) is made by any partner, such partner shall be liable to a penalty of ten thousand rupees.
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