Invitation of comments on the report of the Company Law Committee on Decriminalization of the Limited Liability Partnership Act, 2008

File No. 17/48/2020 - CL-V

Government of India

Ministry of Corporate Affairs

Date: 18.01.2021

NOTICE

INVITATION OF COMMENTS ON THE REPORT OF THE COMPANY LAW COMMITTEE ON DECRIMINALIZATION OF THE LIMITED LIABILITY PARTNERSHIP ACT, 2008.

In continuation of Ministry's policy to decriminalize minor, technical and procedural offences, it had undertaken action to identify twenty (20) Compoundable offences under the Limited Liability Partnership Act, 2008 and a public notice was placed on MCA website for suggestions and comments from stakeholders with respect to Decriminalization of Compoundable Offences under the Limited Liability Partnership Act, 2008 for improving Business Sentiments. In response to the said notice, some suggestions were received from different stakeholders.

2.  The Company Law Committee was constituted by the Ministry of Corporate Affairs in September, 2019 under the chairmanship of Secretary, Ministry of Corporate Affairs, inter alia, to study the existing framework under the Limited Liability Partnership Act, 2008 and to suggest measures to plug the gaps and to identify specific provisions and to decriminalize the provisions of the Limited Liability Partnership Act, 2008 based on their gravity and to take other concomitant measures to bring about Greater Ease of living for corporate stakeholders. The Committee held its meetings on 26.08.2020 and 02.09.2020 respectively and after considering suggestions received from the stakeholders submitted its report.

3.  The report of the Committee has been approved by the Competent Authority and placed on the website of the Ministry. The link for the same is as under http://www.mca.gov.in/Ministry/pdf/Report%20of%20the%20Company%20Law%20Committee%20on%20Decriminalization%20of%20The%20Limited%20Liability%20Partnership%20Act,%202008.pdf

4.  In the report, the Committee inter-alia has recommended twelve offences to be decriminalized and to be shifted to In-house Adjudication Mechanism and two offences to be omitted.

5.  The Report of the Committee can be viewed at the link above mentioned. Public comments/ suggestions are hereby invited on the recommendations of the Committee to this Ministry latest by 02nd February, 2021 through email at email id : llp.amendment@mca.gov.in in the following format for consideration:

(Chandan Kumar)

Deputy Director

Ministry of Corporate Affairs