Section 10
Punishment for contravention of sections 7 and 9.
The Limited Liability Partnership Act, 2008
About this Act
An Act to make provisions for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto.
(1) If the limited liability partnership
contravenes the provisions of sub-section (1) of section 7, the limited liability partnership and its every
partner shall be 1[liable to a penalty of ten thousand rupees and in case of continuing contravention, with a further
penalty of one hundred rupees for each day after the first during which such contravention continues, subject to a
maximum of one lakh rupees for the limited liability partnership and fifty thousand rupees for every partner of such
limited liability partnership].
2[(2) If the limited liability partnership contravenes the provision of sub-section (4) of section 7, such limited liability partnership and its every designated partner shall be liable to a penalty of five thousand rupees and in case of continuing contravention, with a further penalty of one hundred rupees for each day after the first during which such contravention continues, subject to a maximum of fifty thousand rupees for the limited liability partnership and twenty-five thousand rupees for its every designated partner.
(3) If the limited liability partnership contravenes the provisions of sub-section (5) of section 7 or section 9, such limited liability partnership and its every partner shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one hundred rupees for each day after the first during which such contravention continues, subject to a maximum of one lakh rupees for the limited liability partnership and fifty thousand rupees for its every partner.]
2[(2) If the limited liability partnership contravenes the provision of sub-section (4) of section 7, such limited liability partnership and its every designated partner shall be liable to a penalty of five thousand rupees and in case of continuing contravention, with a further penalty of one hundred rupees for each day after the first during which such contravention continues, subject to a maximum of fifty thousand rupees for the limited liability partnership and twenty-five thousand rupees for its every designated partner.
(3) If the limited liability partnership contravenes the provisions of sub-section (5) of section 7 or section 9, such limited liability partnership and its every partner shall be liable to a penalty of ten thousand rupees, and in case of continuing contravention, with a further penalty of one hundred rupees for each day after the first during which such contravention continues, subject to a maximum of one lakh rupees for the limited liability partnership and fifty thousand rupees for its every partner.]
Notes
1. Subs. by s. 5, ibid., for punishable with fine which shall not be less than ten thousand rupees, but which may extend to five
lakh rupees (w.e.f. 1-4-2022).
2. Subs. by Act 31of 2021, s. 5, for sub-section (2) (w.e.f. 1-4-2022).
2. Subs. by Act 31of 2021, s. 5, for sub-section (2) (w.e.f. 1-4-2022).