Company Law Committee recommends decriminalisation of LLP Act, introduction of 'small LLPs'
Company Law Committee recommends decriminalisation of LLP Act, introduction of 'small LLPs' SECTIONS Share Synopsis The committee also suggested the introduction of the concept of a small LLP in line with small companies under the Companies Act, and provision for issuance of non-convertible debentures (NCDs) by LLPs to raise funds. Getty Images A high-level government panel recommended decriminalisation of 12 compoundable offences and the omission of one penal provision under the Limited Liability Partnership (LLP) Act. The Company Law Committee (CLC) also suggested, in a report released on M...
Source: indiatimes.com