The Limited Liability Partnership Act, 2008

In one line

What this Act says

Creates the LLP — a body corporate that gives partners limited liability and perpetual succession, governed by an LLP agreement.

• Carrying on business with intent to defraud creditors

  §30

  Imprisonment up to 2 years + fine ₹50,000 – ₹5 lakh.

• False statement in any document filed with Registrar

  §37

  Imprisonment up to 2 years + fine ₹1 lakh – ₹5 lakh.

• Failure to file annual return / statement of accounts

  §35, §34

  Fine ₹25,000 – ₹5 lakh on LLP + ₹10,000 – ₹1 lakh on each designated partner.

• Default in maintaining proper books of account

  §34

  Fine ₹25,000 – ₹5 lakh on LLP + ₹10,000 – ₹1 lakh on designated partner.

Headline offences only — not exhaustive. For the full text and every section, open the source PDF or the official link below.

Maximum punishments as prescribed by the Act. Actual sentencing depends on facts, prior convictions and judicial discretion.

Sources

Read the Act yourself

We always show you the local source PDF and at least one verifiable online reference, so you can check anything we say.