Penalty adjudication framework expands for limited liability partnerships, with prescribed applications and government-notified transfer of pending matters. Amendment of section 76A of the Limited Liability Partnership Act, 2008 introduces a mechanism for adjudication of penalty on application by a limited liability partnership, its partner, or designated partner in the prescribed form, manner, and fee. It also provides that where offences are later amended to be dealt with under section 76A, the withdrawal of complaints and transfer of pending matters, whether before a court or otherwise, shall be governed by a Scheme notified by the Central Government.
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Penalty adjudication framework expands for limited liability partnerships, with prescribed applications and government-notified transfer of pending matters.
Amendment of section 76A of the Limited Liability Partnership Act, 2008 introduces a mechanism for adjudication of penalty on application by a limited liability partnership, its partner, or designated partner in the prescribed form, manner, and fee. It also provides that where offences are later amended to be dealt with under section 76A, the withdrawal of complaints and transfer of pending matters, whether before a court or otherwise, shall be governed by a Scheme notified by the Central Government.
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