Provisions Regarding Matters Relating To Mutual Rights And Duties Of Partners And Limited Liability Partnership And Its Partners Applicable In The Absence Of Any Agreement On Such Matters 1. The mutual rights and duties of the partners and the mutual rights and duties of the limited liability partnership and its partners shall be determined, subject to the […]

Omitted Amendment 1 Omitted by the Limited Liability Partnership (Amendment) Act, 2021 dated 13th August 2021. Amendment Effective From 01 April 2022. Original content: 81. Transitional provisions Until the Tribunal and the Appellate Tribunal are constituted under the provisions of the Companies Act, 1956 (1 of 1956), the provisions of this Act shall have effect subject to

Power to remove difficulties (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act as may appear to it to be necessary for removing the difficulty: Provided that no

Power to alter Schedules (1) The Central Government may, by notification in the Official Gazette, alter any of the provisions contained in any of the Schedules to this Act. (2) Any alteration notified under sub-section (1) shall have effect as if enacted in the Act and shall come into force on the date of the

Cognizance of offences No court, other than the Special Courts referred to in section 67A, shall take cognizance of any offence punishable under this Act or the rules made thereunder save on a complaint in writing made by the Registrar or by any officer not below the rank of Registrar duly authorised by the Central

Jurisdiction of Court Subject to the provisions contained in section 67A and section 67B, on and from the date of establishment or designation of Special Courts under this Act,— (i) the Special Court referred to in clause (a) of sub-section (2) of section 67A shall have jurisdiction and power to impose punishment under section 30 of the Act; and (ii) the criminal

Adjudication of penalties (1) For the purposes of adjudging penalties under this Act, the Central Government may, by an order published in the Official Gazette, appoint as many officers of the Central Government, not below the rank of Registrar, as adjudicating officers in such manner as may be prescribed. (2) The Central Government shall, while

Offences by limited liability partnerships Where an offence under this Act committed by a limited liability partnership is proved (a) to have been committed with the consent or connivance of a partner or partners or designated partner or designated partners of the limited liability partnership; or (b) to be attributable to any neglect on the part of the partner or partners or designated partner or designated partners of that limited liability

Power of Registrar to strike defunct limited liability partnership off register Where the Registrar has reasonable cause to believe that a limited liability partnership is not carrying on business or its operation, in accordance with the provisions of this Act, the name of limited liability partnership may be struck off the register of limited liability partnerships in such manner as may be prescribed: Provided that the Registrar shall, before striking