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CS Executive · Setting Up of Business, Industrial and Labour Laws · Limited Liability Partnership

Sunrise LLP's Tribunal order under the amalgamation provisions was made on 1 March. By when must the LLP file a certified copy of the order with the Registrar, and what applies to continuing default?

The LLP must file a certified copy of the Tribunal's order with the Registrar within thirty days. Default attracts Rs 10,000 plus Rs 100 per day after the first day, capped at Rs 1 lakh for the LLP and Rs 50,000 for each designated partner.

  1. AWithin sixty days; a flat penalty of Rs 1 lakh
  2. BWithin thirty days; a penalty of Rs 10,000 plus Rs 100 per day after the first day, subject to caps of Rs 1 lakh for the LLP and Rs 50,000 for each designated partnerCorrect
  3. CWithin thirty days; no penalty applies for late filing
  4. DWithin ninety days; imprisonment of designated partners

Explanation

Section 62(3) requires a certified copy to be filed with the Registrar within thirty days of the order. Under section 62(4), default attracts a Rs 10,000 penalty and Rs 100 for each day after the first, capped at Rs 1 lakh for the LLP and Rs 50,000 for each designated partner.

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