https://www.taxtmi.com/acts?id=11135 Where an LLP or any partner acts with intent to defraud creditors or others, the LLP and those partners incur unlimited liability for the LLP's debts unless the LLP proves lack of knowledge or authority; persons knowingly party to carrying on business with such intent face criminal penalties; fraudulent conduct by the LLP, partners, designated partners, or employees also gives rise to compensatory liability to victims, without prejudice to criminal proceedings, except where the LLP establishes lack of knowledge of the individual's fraud. en-us Fri, 18 Sep 2009 15:42:23 +0530 Mon, 21 Feb 2022 12:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11135 Where an LLP or any partner acts with intent to defraud creditors or others, the LLP and those partners incur unlimited liability for the LLP's debts unless the LLP proves lack of knowledge or authority; persons knowingly party to carrying on business with such intent face criminal penalties; fraudulent conduct by the LLP, partners, designated partners, or employees also gives rise to compensatory liability to victims, without prejudice to criminal proceedings, except where the LLP establishes lack of knowledge of the individual's fraud. Act-Rules LLP Fri, 18 Sep 2009 15:42:23 +0530 https://www.taxtmi.com/acts?id=11135