Amendments to the LLP Act removed 15 offenses from the criminal category

(PTI) New Delhi, Dt

As part of efforts to make it easier to do business in the country and promote the startup ecosystem, the Union Cabinet on Wednesday amended the Limited Liability Partnership (LLP) Act for the first time to remove 18 offenses from the criminal category under various provisions of the law. The Union Cabinet on Wednesday approved amendments to the LLP Act. The changes proposed under the amended law include exclusion from criminal proceedings if the provisions of the law are not complied with. Nirmala Sitaram, who is also in charge of the Ministry of Corporate Affairs, said the approval would reduce the number of punitive provisions in the law to five while the number of cases resolved through conciliation would be reduced to seven. At the same time, the number of serious offenses will be 6 and the number of cases settled as per the order of the in-house adjudication system i.e. the adjudicating officer appointed by the Central Government will be 18.