{"id":252474,"date":"2021-08-10T09:33:22","date_gmt":"2021-08-10T04:03:22","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=252474"},"modified":"2021-08-10T09:32:20","modified_gmt":"2021-08-10T04:02:20","slug":"limited-liability-partnership-amendment-bill-2021-passed-by-lok-sabha","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/10\/limited-liability-partnership-amendment-bill-2021-passed-by-lok-sabha\/","title":{"rendered":"Limited Liability Partnership (Amendment) Bill, 2021 passed by Lok Sabha"},"content":{"rendered":"<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">On August 10, 2021, the Limited Liability Partnership (Amendment) Bill, 2021 passed by the Lok Sabha. It was passed by the Rajya Sabha on August 04, 2021. The amendment seeks to amend LLP Act, 2008.<br \/>\n<\/span><\/p>\n<h4><\/h4>\n<h4><span style=\"color: #800000;\">Key highlights:<\/span><\/h4>\n<ul>\n<li><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">De-criminalization of procedural &amp; technical defaults under LLP Act, 2008 will incentivize compliance and reduce burden on NCLT and special courts.<\/span><\/li>\n<li><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Enhance the confidence of LLPs on the Government\u2019s resolve to reduce the burden on the criminal Justice system<\/span><\/li>\n<li><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> Provide greater Ease of Doing Business and accord highest respect to honest wealth creators in the country. <\/span><\/li>\n<li>Concept of &#8216;Small LLP&#8217; and &#8216;Start up LLP&#8217; introduced in the LLP Act, 2008.<\/li>\n<li>Provisions of levying additional fees in case of late filings by LLPs rationalised.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>On August 10, 2021, the Limited Liability Partnership (Amendment) Bill, 2021 passed by the Lok Sabha. It was passed by the Rajya <\/p>\n","protected":false},"author":8808,"featured_media":29801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[],"class_list":["post-252474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Limited Liability Partnership (Amendment) Bill, 2021 passed by Lok Sabha | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/10\/limited-liability-partnership-amendment-bill-2021-passed-by-lok-sabha\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Limited Liability Partnership (Amendment) Bill, 2021 passed by Lok Sabha\" \/>\n<meta property=\"og:description\" content=\"On August 10, 2021, the Limited Liability Partnership (Amendment) Bill, 2021 passed by the Lok Sabha. 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The National Commission for Indian System of Medicine (Amendment) Bill, 2021, seeks\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":293841,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/05\/mca-revises-llp-form3-vide-limited-liability-partnership-amendment-rules-2023-legal-news\/","url_meta":{"origin":252474,"position":3},"title":"Govt revises LLP Form No 3 vide Limited Liability Partnership (Amendment) Rules, 2023","author":"Kriti","date":"June 5, 2023","format":false,"excerpt":"On 2-6-2023, the Ministry of Corporate Affairs notified the Limited Liability Partnership (Amendment) Rules, 2023 to amend the Limited Liability Partnership Rules, 2009. LLP Form No. 3 relating to \u201cInformation with regard to Limited Liability Partnership Agreement and changes, if any, made therein\u201d has been revised with effect from 2-6-2023.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of corporate affairs","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":246795,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/13\/budget-session-18-bills-passed-by-parliament\/","url_meta":{"origin":252474,"position":4},"title":"Budget Session | 18 Bills passed by Parliament","author":"Bhumika Indulia","date":"April 13, 2021","format":false,"excerpt":"The Budget Session, 2021 of Parliament, which commenced on January 29, 2021, has been adjourned on March 25, 2021. During this Session a total of 20 Bills (17 in Lok Sabha and 03 in Rajya Sabha) were introduced. 18 Bills were passed by Lok Sabha and 19 Bills were passed\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":227761,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/01\/mca-introduces-companies-fresh-start-scheme-2020-and-revised-llp-settlement-scheme-2020-to-provide-relief-to-law-abiding-companies-and-limited-liability-partne\/","url_meta":{"origin":252474,"position":5},"title":"MCA introduces &#8212; \u201cCompanies Fresh Start Scheme, 2020\u201d and revised \u201cLLP Settlement Scheme, 2020\u201d to provide relief to law abiding companies and Limited Liability Partnerships in the wake of COVID-19","author":"Bhumika Indulia","date":"April 1, 2020","format":false,"excerpt":"In pursuance of the Government of India\u2019s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the \u201cCompanies Fresh Start Scheme, 2020\u201d and revised the \u201cLLP Settlement Scheme, 2020\u201d which is already\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=252474"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/29801"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=252474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=252474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=252474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}