Business Studies · Limited Liability Partnership Act
Making a false statement knowingly during the incorporation process of an LLP attracts which of the following penalties under the LLP Act, 2008?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1A fine up to ₹1 lakh only, without any provision for imprisonment
- 2Imprisonment for a term which may extend to 2 years, and a fine which shall not be less than ₹10,000 but may extend to ₹5 lakh✓
- 3Immediate and permanent suspension of the professional license of the certifying individual
- 4A flat fine of ₹50,000 to be deposited with the state treasury
Correct answer
Imprisonment for a term which may extend to 2 years, and a fine which shall not be less than ₹10,000 but may extend to ₹5 lakh
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Business Studies?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Limited Liability Partnership Act MCQs →Want more practice questions on Limited Liability Partnership Act?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Business Studies · Limited Liability Partnership Act