Corporate affairs ministry amends rules for LLPs

The rules will be effective from April 1, 2022.

New Delhi: The corporate affairs ministry has amended rules pertaining to Limited Liability Partnerships (LLPs) and has introduced various provisions, including a framework for adjudication of penalties.

As per the amended rules, the central government can appoint any of its officers, not below the rank of Registrar, as adjudicating officers for adjudging penalty under the provisions of the LLP Act.

Among other requirements, prior to adjudging the penalty for a violation, an adjudicating officer concerned has to issue a show-cause notice to LLP, partner or any other person concerned.