 "contracts, companies, documents, probe, investigations, regulator, laws, llp act, limited liability partnership, corporate")
After amending the Companies Act, the Ministry of Corporate Affairs is now looking to decriminalise provisions of the Limited Liability Partnership (LLP) Act in the upcoming Winter Session of Parliament. One of the changes being proposed is allowing LLPs to issue non-convertible debentures (NCDs), a senior government official told Business Standard.
“Many provisions in the Companies Act are also linked to the LLP Act. We want to ensure both are compatible and also do away with criminality when it comes to procedural offences,” the official said.
Around 20 clauses in the Act relating to procedural violations will be revised. “There
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