Law · Limited Liability Partnership Act
Under the Limited Liability Partnership (LLP) Act, 2008 in India, what is the maximum punishment for a partner or employee carrying on the business of the LLP with intent to defraud creditors or for any fraudulent purpose?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Cancellation of LLP registration without any individual penalty
- 2Imprisonment for a term which may extend to five years and with fine✓
- 3Imprisonment for a term which may extend to two years only
- 4Fine only, up to five lakh rupees
Correct answer
Imprisonment for a term which may extend to five years and with fine
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