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Compromise, Arrangement, or Reconstruction of Limited Liability Partnerships
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Compromise, Arrangement, or Reconstruction of Limited Liability Partnerships

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Questions and Answers

What is the maximum penalty for failing to comply with a summons issued by the Registrar under the Limited Liability Partnership Act, 2008?

  • A fine of Rs. 10,000 or imprisonment up to 1 year, or both
  • A fine of Rs. 25,000 or imprisonment up to 2 years, or both (correct)
  • A fine of Rs. 5,000 or imprisonment up to 6 months, or both
  • A fine of Rs. 50,000 or imprisonment up to 3 years, or both

    • Which authority is empowered to compound offences under the Limited Liability Partnership Act, 2008?

  • The Regional Director
  • Both (b) and (c) (correct)
  • The Registrar of Limited Liability Partnerships
  • The Central Government

    • Within what time frame must an offence be compounded under the Limited Liability Partnership Act, 2008?

  • 6 months from the date of commission of the offence
  • 1 year from the date of commission of the offence (correct)
  • 3 months from the date of commission of the offence
  • There is no time limit specified in the Act

    • What is the maximum penalty for a limited liability partnership that fails to comply with the requirements of the Limited Liability Partnership Act, 2008 or its rules?

    <p>A fine of Rs. 10 lakh</p> Signup and view all the answers

    Under what circumstances can the Registrar of Limited Liability Partnerships summon an individual under the Limited Liability Partnership Act, 2008?

    <p>The Registrar has the power to summon any individual for any reason related to the administration of the Act</p> Signup and view all the answers

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