The Ministry of Corporate Affairs on 7th July 2020 has extended the last date for submission of suggestions/comments on the Decriminalization of Compoundable offenses under Limited Liability Partnership(LLP) Act, 2008 up to 19 July 2020.
The exercise to identify and decriminalize the provisions of LLP Act is aimed at incentivising compliance, de-clogging of the criminal justice system and promoting congenial business climate and the offences proposed to be decriminalized include non-compliance with norms regarding:
- eligibility and appointment of designated partners
- registration of changes in partners
- maintenance of books of account, other records and audit and
- filing of annual return.
Source: MCA Website
