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of <h1>LLP Amendment Act 2021: New Penalties for Contravening Section 25 Sub-sections (1) and (2) Introduced</h1> The Limited Liability Partnership (Amendment) Act, 2021, amends section 25 of the principal Act by replacing sub-sections (4) and (5). Under the new provisions, a limited liability partnership (LLP) and each designated partner are subject to a penalty of ten thousand rupees if they contravene sub-section (2). Additionally, any partner of the LLP who contravenes sub-section (1) will also face a penalty of ten thousand rupees.
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