Expenses of investigation (1) The expenses of, and incidental to, an investigation by an inspector appointed by the Central Government under this Act shall be defrayed in the first instance by the Central Government; but the following persons shall, to the extent mentioned below, be liable to reimburse the Central Government in respect of such […]
Proceedings for recovery of damages or property If, from any report under section 49, it appears to the Central Government that proceedings ought, in the public interest, to be brought by the limited liability partnership or any entity whose affairs have been investigated, (a) for the recovery of damages in respect of any fraud, misfeasance or other misconduct in connection with the
Application for winding up of limited liability partnership If any such limited liability partnership is liable to be wound up under this Act or any other law for the time being in force, and it appears to the Central Government from any such report under section 49 that it is expedient to do so by reason of any such
Prosecution If, from the report under section 49, it appears to the Central Government that any person in relation to the limited liability partnership or in relation to any other entity whose affairs have been investigated, has been guilty of any offence for which he is liable, the Central Government may prosecute such person for the offence; and it shall
Inspectors report (1) The inspectors may, and if so directed by the Central Government, shall make interim reports to that Government, and on the conclusion of the investigation, shall make a final report to the Central Government and any such report shall be written or printed, as the Central Government may direct. (2) The Central
Seizure of documents by inspector (1) Where in the course of investigation, the inspector has reasonable ground to believe that the books and papers of, or relating to, the limited liability partnership or other entity or partner or designated partner of such limited liability partnership may be destroyed, mutilated, altered, falsified or secreted, the inspector may make an application to the Judicial Magistrate of the
The attestation of a Chartered Accountant on a certificate or any such document is of immense value since it usually signifies that the Chartered Accountant, in his professional opinion, has ensured that there is no misrepresentation by the entity issuing/submitting such a document. A prime example of this being an audit report issued by the
Companies and LLPs in India are required to comply with annual filings under the Companies Act, 2013 and the Limited Liability Partnership Act, 2008. The filings with the ROC should be made once a year or on the occurrence of specified events. The ROC i.e. Registrar of Companies requires all companies registered in India to file certain
Production of documents and evidence (1) It shall be the duty of the designated partner and partners of the limited liability partnership (a) to preserve and to produce before an inspector or any person authorised by him in this behalf with the previous approval of the Central Government, all books and papers of, or relating to, the limited liability
Power of inspectors to carry out investigation into affairs of related entities, etc (1) If an inspector appointed by the Central Government to investigate the affairs of a limited liability partnership thinks it necessary for the purposes of his investigation to investigate also the affairs of an entity which has been associated in the past or is presently associated
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