MOST IMPORTANT “ONE-LINERS”: LLP ACT, 2008 (Indian Perspective)

Limited Liability Partnership Act, 2008 (LLP Act, 2008)

1. Constitutional Source: Which Entry of the 7^th Schedule of the Indian Constitution empowers legislature to legislate on the matter relating to ‘partnership’—Entry No. 7 of Concurrent List.
2. Latest Amendment in LLP Act, 2008—2021.
3. Whether a HUF can become partner in LLP—No, HUF can’t become partner in the LLP. 
4. Partnership Act & LLP: True/ False- The Partnership Act, 1932 shall not be applicable to LLP—True. [Section 4]
5. Assent: The LLP Act, 2008 received the assent of the President on –07- January- 2009.
6. Total Section in LLP Act are—81 Sections.
7. Total Chapters under LLPA, 2008 are—14 Chapters.
8. The LLP Act, 2008 is having how many Schedules?—4- Schedules.
9. Provisions regarding matters relating to mutual rights and duties of partners and LLP and its partners applicable in the absence of any agreement on such matters are dealt with under which Schedule—I- Schedule.
10. Conversion from firm into LLP is dealt with under which Schedule—II- Schedule.
11. Conversion from private company into LLP is dealt with under which Schedule—III- Schedule.
12. Conversion from unlisted public company into LLP is dealt with under which Schedule—IV- Schedule.
13. Preamble: An Act to make provisions for the formation and regulation of LLP.
14. Extent: The LLP extends to the whole of India—True. [Section 1(2)]
15. True/False: “Corporation Sole” and a “co-operative society” are is not a body corporate—True. [Section 2(d)]
16. Foreign LLP: A LLP formed, incorporated or registered outside India which establishes a place of business within India is called—Foreign LLP. [Section 2(m)]
17. The expression ‘LLP’ is defined under Section?—Section 2(n)
18. A “limited liability partnership” (LLP) means a partnership formed and registered under________Act—LLP Act, 2008. [Section 2(n)]
19. Any written agreement between the partners of the LLP or between the LLP and its partners which determines the mutual rights and duties of the partners and their rights and duties in relation to that LLP is called?—Limited Liability Partnership Agreement [LLP Agreement].
20. Limited Liability Partnership Agreement [LLP Agreement] is defined under Section_______of LLP Act,, 2008—Section 2(n)
21. Section 2(ta) was inserted in LLP Act to define—Small LLP.
22. The concept of Small LLP was inserted under LLP Act by which Amendment—2021 Amendment.
23. ‘Contribution’ of Small LLP: From contribution viewpoint, a Small LLP means a LLP the contribution of which does not exceed Rs.________ or such higher amount not exceeding Rs.________— Rs.25-lakh; Rs.5-Crore.
24. ‘Turnover’ of Small LLP: From turnover viewpoint, a Small LLP means a LLP, the turnover of which, as per the Statement of Accounts and Solvency for the immediately preceding financial year, does not exceed Rs.________ or such higher amount, not exceeding Rs.________— Rs.40-lakh; Rs.50-Crore.
25. Separate Legal Entity: The LLP shall be a body corporate and shall have separate legal identity from it members—Section3.
26. Perpetual Succession: A limited liability partnership (LLP) shall have perpetual succession—True. [Refer Section 3]
27. True/ False: Any change in the partners of a limited liability partnership (LLP) shall not affect the existence, rights or liabilities of the LLP—True. [Refer Section 3]
28. Partnership Act: As per Section_____of the LLP Act, 2008, the Partnership Act, 1932 shall not be applicable to LLP—Section 4.
29. What is Section 4?—Partnership Act shall not apply to LLP.
30. Any individual or body corporate may be a partner in a LLP—True.
31. Who may be a partner in a limited liability partnership (LLP)—Any individual or body corporate.[Section 5]
32. Min. no. of partners in LLP—Min. 2- Partners. [Section 6]
33. What is the maximum prescribed limit on the number of partners in a LLP—No maximum limit.
34. Personal liability of Single-Partner: If at any time the number of partners of a LLP is reduced below two and the LLP carries on business for more than ______ months while the number is so reduced, the person, who is the only partner of the LLP during the time that it so carries on business after those _______ months and has the knowledge of the fact that it is carrying on business with him alone, shall be liable personally for the obligations of the LLP incurred during that period—Six Months. [Section 6]
35. Personal liability of Single-Partner: If at any time the number of partners of a LLP is reduced below two and the LLP carries on business for more than six months while the number is so reduced, the person, who is the only partner of the LLP during the time that it so carries on business after those six months and has the knowledge of the fact that it is carrying on business with him alone, shall be liable personally for the obligations of the LLP incurred during that period. It is so under Section________of LLP Act—Section 6.
36. Section 7 of the LLP Act, 2008 deals with—Designated Partners.
37. Every LLP shall have at least ________designated partners [DP]—2- Designated Partner. [Section 7]
38. Who shall be Designated Partners—Individuals Only. [Section 7]
39. True / False: In case of a LLP in which all the partners are bodies corporate or in which one or more partners are individuals and bodies corporate, at least two individuals who are partners of such LLP or nominees of such bodies corporate shall act as designated partners—True. [Section 7]
40. True / False: Out of 2 individual Designated Partners, at least one of them shall be a resident in India—True. [Section 7]
41. 120 Days Residency: The term ‘resident in India’ means a person who has stayed in India for a period of not less than __________ days during the financial year—120 Days. [Refer Section 7. Before 2022 Amendment it was 182 days during the immediately preceding one year]
42. Prior Consent: True / False: An individual shall not become a designated partner in any LLP, unless he has given his prior consent to act as such to the limited liability partnership (LLP)—True. [Section 7]
43. Reporting of DP: Every LLP shall file with the Registrar the particulars of every individual who has given his consent to act as designated within ______days of his appointment—30 Days. [Section 7]
44. Penalty for non-submission of particulars with Registrar as to DP—If the LLP, fails to submit particulars with Registrar as to DP, such LLP and its every DP shall be liable to a penalty of Rs.______ and in case of continuing contravention, with a further penalty of Rs.______for each day after the first during which such contravention continues, subject to a maximum of Rs. ______for LLP and Rs.______for its every designated partner—Rs.5000/-; Rs.100/-; Rs.50,000/-; Rs.25,000/-. [Section 10]
45. DPIN: Every designated partner (DP) of a limited liability partnership (LLP) shall obtain a special identification which is known as—DPIN (Designated Partner Identification Number) [Section 7]
46. DPIN: Every designated partner (DP) of a LLP shall obtain a Designated Partner Identification Number (DPIN) from which Authority—The Central Government [Section 7]
47. Liabilities of DP: True / False: Unless expressly provided otherwise in this Act, a designated partner shall be liable to all penalties imposed on the LLP for any contravention of those provisions—True. [Section 8]
48. Appointing DP: A LLP may appoint a designated partner [DP] within _______ days of a vacancy arising for any reason—30 Days. [Section 9]
49. Deemed DP— True / False: If no designated partner (DP) is appointed, or if at any time there is only one designated partner, each partner shall be deemed to be a designated partner—True. [Section 9]
50. Penalty for vacancy of DP within 30 days — If the LLP is not appointing DP within the period of 30 days from the date of vacancy, the LLP and its every partner shall be liable to a penalty of Rs.______ and in case of continuing contravention, with a further penalty of Rs.______ for each day after the first during which such contravention continues, subject to a maximum of _______for the LLP and Rs._____ for every partner of such LLP—Rs.10,000/-; Rs.100/-; Rs.1-lakh; Rs.50,000/-[Section 10]
51. Penalty for no DP— If the LLP is not having min. 2-DP, the LLP and its every partner shall be liable to a penalty of Rs._________ and in case of continuing contravention, with a further penalty of Rs.________ for each day after the first during which such contravention continues, subject to a maximum of ___________ for the LLP and Rs._________ for every partner of such LLP—Rs.10,000/-; Rs.100/-; Rs.1-lakh; Rs.50,000/-[Section 10]
52. Penalty for Ineligible DP— If the LLP is having DP contravening eligibility criteria, the LLP and its every partner shall be liable to a penalty of Rs._________ and in case of continuing contravention, with a further penalty of Rs.________ for each day after the first during which such contravention continues, subject to a maximum of ___________ for the LLP and Rs._________ for every partner of such LLP—Rs.10,000/-; Rs.100/-; Rs.1-lakh; Rs.50,000/-[Section 10]
53. Penalty for not filing vacancy of DP within 30 days — If the LLP is not appointing DP within the period of 30 days from the date of vacancy, the LLP and its every partner shall be liable to a penalty of Rs._________ and in case of continuing contravention, with a further penalty of Rs.________ for each day after the first during which such contravention continues, subject to a maximum of ___________ for the LLP and Rs._________ for every partner of such LLP—Rs.10,000/-; Rs.100/-; Rs.1-lakh; Rs.50,000/-[Section 10]
54. Section 11 of LLP Act, 2008 deals with—Incorporation Documents.
55. Which Section of LLP Act, 2008 deals with ‘Incorporation Document’—Section 11.
56. True / False: For a limited liability partnership to be incorporated, two or more persons associated for carrying on a lawful business with a view to profit shall subscribe their names to an incorporation document—True. [Section 11].
57. True / False: For a LLP to be incorporated, the incorporation document shall be filed in such manner and with such fees, as may be prescribed with the Registrar of the State in which the registered office of the LLP is to be situated—True. [Section 11].
58. True / False: For a LLP to be incorporated, there shall be filed along with the incorporation document, a statement in the prescribed form, made by either an advocate, or a Company Secretary or a Chartered Accountant or a Cost Accountant, who is engaged in the formation of the LLP and by any one who subscribed his name to the incorporation document, that all the requirements of this Act and the rules made thereunder have been complied with, in respect of incorporation and matters precedent and incidental thereto—True. [Section 11].
59. If a false statement is made as to proposed business of the LLP at the time of incorporation of LLP, such person shall be punishable with imprisonment for a term which may extend to _______ and with minimum fine of Rs._________to maximum Rs._________________—2-years; Rs.10,000; Rs.5 lakh. [Section 11]
60. The LLP is registered under Section________of the LLP Act, 2008—Section 12.
61. The Registrar shall register the LLP within a period of__________days—14 days from the date submission of incorporation formalities. [Section 12]
62. Conclusive Evidence: True/ False: The Registration Certificate shall be “conclusive evidence” that the LLP is incorporated—True [Section 12]
63. If the LLP defaults in updating change of place of Registered Office to Registrar, the LLP and its every partner shall be liable to a penalty of Rs._______for each day during which the default continues, subject to a maximum of Rs._______for the LLP and its every partner—Rs.500/- for each day subject to maximum Rs.50,000/-.[Section 13]
64. Effect of registration of PLP is dealt with under Section______of the LLP Act, 2008—Section 14.
65. Registration by Fraud: In which international case where the registration of LLP was procured by fraud, it was held that despite having been issued through misrepresentation by the partners, the certificate of registration itself was genuine and the firm was responsible for actions done after its registration—Bank of Beirut SAL Vs. HRH Prince Adel EL- Hashemite (2016)
66. As per Section____?___, every LLP shall have either the words “limited liability partnership” or the acronym “LLP” as the last words of its name—Section 15.
67. Reservation of Proposed Name: Upon receipt of an application and on payment of the prescribed fee, the Registrar may reserve the name proposed for incoming LLP for a period of ___?_____months from the date of intimation by the Registrar—Three Months[Section 16]
68. Change of Identical Name: When a LLP is registered by a name which is identical with or too nearly resembles to another existing entity, the Central Government may direct that such LLP to change its name or new name within a period of ___?____ months from the date of issue of such direction—Three Months. [Section 17]
69. Limitation Period: In case of registered trade mark, if the name of the LLP resembles to the existing entity, an application of the proprietor of the registered trade marks shall be maintainable within a period of ___?___ years from the date of incorporation or registration or change of name of the LLP—Three Years. [Section 17]
70. Change of LLP Name: Where a LLP changes its name or obtains a new name, it shall within a period of ___?____days from the date of such change, give notice of the change to Registrar along with the order of the Central Government, who shall carry out necessary changes in the certificate of incorporation and within ___?____ days of such change in the certificate of incorporation, such LLP shall change its name in the LLP agreement—15 Days; 30 Days. [Section 17]
71. True/ False: If the LLP does not change the identical name as directed by Central Government, the Central Government shall allot a new name to the LLP and the Registrar shall enter the new name in the register of LLP in place of the old name and issue a fresh certificate of incorporation with new name, which the LLP shall use thereafter—True. [Section 17]
72. Improper use of words “LLP“: If any person or persons carry on business under any name or title of which the words “Limited Liability Partnership” or “LLP” or any contraction or imitation thereof is or are the last word or words, that person or each of those persons shall, unless duly incorporated as LLP, be punishable with fine which shall not be less than Rs.________ but which may extend to Rs._____—Rs.50-thousand; 5-Lakh. [Section 20]
73. True/ False: On the incorporation of a LLP, the persons who subscribed their names to the incorporation document shall be its partners—True. [Section 22]
74. An agreement in writing made before the incorporation of a LLP between the persons who subscribe their names to the incorporation document may impose obligations on the LLP, provided such agreement is ratified by _______ partners after the incorporation of the LLP—All the Partners. [Section 23]
75. Mutual Rights & Duties (MRD): In the absence of agreement, the mutual rights and duties of the partners and the mutual rights and duties of the LLP and the partners shall be determined by the provisions relating to that matter as are set-out in the___?___Schedule—First Schedule.[Section 23]
76. A person may cease to be a partner of a LLP by giving a notice in writing of not less than ____?____ days to the other partners of his intention to resign as partner—30 Days Notice. [Section 24]
77. Where a person becomes or ceases to be a partner, a LLP shall file a notice with the Registrar within ________days from the date he becomes or ceases to be a partner—30 Days. [Section 25]
78. Change of Name/ Address of Partners: Every partner shall inform the LLP of any change in his name or address within a period of ___?____ days of such change—15 Days. [Section 25]
79. Non-Reporting of Change in Name/ Address: If the partner does not inform to the LLP as to changes of his name or address, such partner shall be liable to a penalty of Rs.____?_____–Rs.10,000/-.[Section 25]
80. In case of change of name / address of a partner, a LLP shall file a notice with the Registrar within ____?____days from the date he becomes or ceases to be a partner—30 Days. [Section 25]
81. Any person who ceases to be a partner of a LLP may himself file with the Registrar the notice of his resignation, if he has reasonable cause to believe that the LLP may not file the notice with the Registrar and in case of any such notice filed by a partner, the Registrar shall obtain a confirmation to this effect from the LLP unless the LLP has also filed such notice. Where no confirmation is given by the LLP within ____?______days, the Registrar shall register the notice made by a person ceasing to be a partne—15 Days. [Section 25]
82. Non-Reporting of Change in Name/ Address by LLP: If the LLP does not inform to the Registrar as to changes in partners/ or name or address to the partners, the LLP as well as every DP shall be liable to a penalty of Rs.____?_____–Rs.10,000/-.[Section 25]
83. Partner agent of LLP: True/ False: Every partner of a LLP is the agent of the LLP, but not of other partners—True. [Section 26].
84. Partner as Agent: Every partner of a LLP is, for the purpose of the business of the LLP, the agent of the LLP, but not of other partners. It is so provided under Section____?____of the LLP Act, 2008—Section 26.
85. True/ False: The liabilities of the limited liability partnership (LLP) shall be met out of the property of the limited liability partnership—True. [Section 27]
86. Section _______of LLP Act, 2008 deals with extent of liability of limited liability partnership (LLP)—Section 27.
87. Section _______of LLP Act, 2008 deals with extent of liability of ‘partners’ of limited liability partnership (LLP)—Section 28.
88. Section 29 of the LLP Act deals with—Doctrine of Holding Out (DOHO).
89. Any person, who by words spoken or written or by conduct, represents himself, or knowingly permits himself to be represented to be a partner in a LLP to any person who has on the faith of any such representation given credit to the LLP, such act is covered under which doctrine?—Doctrine of Holding Out [Section 29]
90. True/ False: In order to make liable under doctrine of holding out (DOHO) it is irrelevant thatwhether the person representing himself or represented to be a partner does or does not know that the representation has reached the person so giving credit—True. [Section 29]
91. LLP liability in DOHO: True/ False: Under DOHO through, the person who misrepresent is liable personally, the LLP shall, without prejudice to the liability of the person so representing himself or represented to be a partner, be also liable to the extent of credit received by it or any financial benefit derived thereon out of such representation—True. [Section 29]
92. LR not liable: True/ False: Where after a partner’s death the business is continued in the same LLP name, the continued use of that name or of the deceased partner’s name as a part thereof shall not of itself make his legal representative or his estate liable for any act of the LLP done after his death—True. [Section 29]
93. Unlimited liability in Fraud: In the event of an act carried out by a LLP, or any of its partners, with intent to defraud creditors of the LLP or any other person, or for any fraudulent purpose, the liability of the LLP and partners who acted with intent to defraud creditors or for any fraudulent purpose shall be—Unlimited. [Section 30]
94. Punishment for Fraud: In the event of an act carried out by a LLP, or any of its partners, with intent to defraud creditors of the LLP, every person shall be punishable with imprisonment for a term which may extend to ______ and with fine which shall not be less than Rs._______ but which may extend to Rs._______—5- years; Rs.50,000/-; Rs.5-lakh.
95. Section ________of the LLP Act deals with_______?—Section 31.
96. Whistle blowing: The Court or Tribunal may reduce or waive any penalty leviable against any partner or employee of a LLP, if it is satisfied that such partner or employee of a LLP has provided________ information during investigation of such LLP for finding out the offence—Useful. [Section 31]
97. Whistle blowing: True/ False: The Court or Tribunal may reduce or waive any penalty leviable against any partner or employee of a LLP, if it is satisfied that when any information given by any partner or employee (whether or not during investigation) leads to LLP or any partner or employee of such LLP being convicted—True. [Section 31]
98. Protection to Whistle blower: True/ False: No partner or employee of any LLP may be discharged, demoted, suspended, threatened, harassed discriminated merely because of his providing information to the Court or Tribunal—True. [Section 31]
99. Form of Contribution: True/ False: A contribution of a partner may consist of tangible or intangible property –True. [Section 32]
100. Form of Contribution: True/ False: A contribution of a partner may consist of movable or immovable property –True. [Section 32]
101. Form of Contribution: True/ False: A contribution of a partner may consist of money, promissory notes, other agreements to contribute cash or property, and contracts for services performed or to be performed–True. [Section 32]
102. Form of Contribution: True/ False: The monetary value of contribution of each partner shall be accounted for and disclosed in the accounts of the LLP–True. [Section 32]
103. Maintenance of A/c: The LLP shall maintain such proper books of account on cash basis or accrual basis and according to________system of accounting—Double Entry System [Section 34]
104. At which place the LLP shall maintain books of accounts— At its Registered Office. [Section 34]
105. Any LLP which fails to prepare book of account, such LLP shall be punishable with minimum fine of Rs._______and and maximum of Rs.______—Rs.25,000/-; Rs.5-lakh [Section 34]
106. Any LLP which fails to prepare book of account, the Designated Partner (DP) of such LLP shall be punishable with minimum fine of Rs.______and and maximum of Rs._______—Rs.10,000/-; Rs.1-lakh [Section 34]
107. Annual Return: Every LLP shall file an annual return duly authenticated with the Registrar ______ days of closure of its financial year—60-Days. [Section 34]
108. If any LLP fails to file its annual return within 60-days, such LLP and its designated partners shall be liable to a penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of one lakh rupees for the limited liability partnership and fifty thousand rupees for designated partners—100; Rs. 1-lakh; Rs.50,000/-.[Section 34]
109. Every LLP shall, within a period of _______months from the end of each financial year, prepare a Statement of Account and Solvency for the said financial year as at the last day of the said financial year, and such statement shall be signed by the designated partners of the limited liability partnership—Six-month. [Section 34]
110. Every limited liability partnership shall file within the prescribed time, the Statement of Account and Solvency (SAS) with the Registrar _____ year—Every Year. [Section 34]
111. The LLP shall file the Statement of Account and Solvency in the prescribed form. Which is this Form—Form 8.
112. Who shall sign the Statement of Account and Solvency prepared by the LLP–Who shall sign the Statement of Account and Solvency prepared by the LLP—By the designated partners [Section 34]
113. Any LLP which fails to file Statement of Account and Solvency, such LLP and its designated partners (DP) shall be liable to a penalty of Rs._______ for each day during which such failure continues, subject to a maximum of Rs.______/- for the LLP and Rs.________/- for every designated partner—Rs.100; Rs. 1-lakh; Rs.50,000/-.[Section 34]
114. Every LLP shall file an annual return duly authenticated with the Registrar within ______ days of closure of its financial year—Sixty Days [Section 35]
115. If any LLP fails to file its annual return within specified timeframe of 60 days, LLP and its designated partners (DP) shall be liable to a penalty of Rs.______/- for each day during which such failure continues, subject to a maximum of Rs._______for the LLP and Rs.______/- for designated partners (DP)—Rs.100; Rs. 1-lakh; Rs.50,000/-.[Section 35]
116. If in any return, statement or other document required by or for the purposes of LLP Act, any person makes a false statement, he shall be punishable with imprisonment for a term which may extend to ____ years, and shall also be liable to fine which may extend to Rs._____Lakh but which shall not be less than Rs. ______Lakh—2-years; 5- Lakh; 5- Lakh. [Section 37]
117. The Registrar has power to obtain information as to LLP and in case the person fails to comply with direction of the Registrar, he shall be punishable with minimum fine of Rs._______/-  and maximum fine of Rs._______/- —Rs.2,000/-; Rs.25,000/-[Section 38]
118. Compounding: Every application for the compounding of an offence shall be made to whom?—The Registrar. [Section 39]
119. Compounding:  The Registrar after receiving application for the compounding of an offence shall forward the same, together with his comments thereon, to whom?—The Regional Director or any other officer not below the rank of Regional Director authorised by the Central Government. [Section 39]
120. Compounding: True/ False: The Regional Director or any other officer not below the rank of Regional Director authorised by the Central Government may compound any offence under the LLP Act which is punishable with fine only—True. [Section 39]
121. Compounding: True/ False: While compounding an offence, the fine imposed for the punishment shall be collected and such fine shall not be lesser than the minimum fine for the offence—True. [Section 39]
122. 3-years, no Compounding: The compounding of offence shall not be made when an offence committed by a LLP or its partner or its designated partner within a period of _______years from the date on which similar offence committed by it or him was compounded—3-years [Section 39]
123. Compounding: True/ False: Any second or subsequent offence committed after the expiry of the period of _____ years from the date on which the offence was previously compounded, shall be deemed to be the first offence for the purpose of compounding under LLP Act, 2008—Three-Years. [Section 39]
124. Compounding: True/ False: Any second or subsequent offence committed after the expiry of the period of three years from the date on which the offence was previously compounded, shall be deemed to be the first offence for the purpose of compounding under LLP Act, 2008—True. [Section 39]
125. Compounding: When an offence is compounded, whether before or after the institution of any prosecution, intimation thereof shall be given to the Registrar within a period of _____days from the date on which the offence is so compounded—Seven Days. [Section 39]
126. No Prosecution after Compounding: True/ False: Where any offence is compounded before the institution of any prosecution, no prosecution shall be instituted in relation to such offence—True. [Section 39]
127. Compounding while Prosecution: Where the compounding of any offence is made after the institution of any prosecution, such compounding shall be brought by the ________ in writing, to the notice of the court in which prosecution is pending—Registrar [Section 39]
128. Discharge on Compounding:  The offender in relation to which the offence is compounded shall be—Discharged. [Section 39]
129. If any order as to compounding made by the Regional Director or any other officer not below the rank of Regional Director authorised by the Central Government, is violated, the maximum amount of fine for the offence shall be _______ the amount provided in the corresponding section—Twice. [Section 39]
130. Investigation: The Tribunal, either suo motu, or on an application received from not less than________of the total number of partners of LLP, by order, declares that the affairs of the limited liability partnership ought to be investigated—1/5^th [Section 43]
131. Section______of the LLP Act provides that no firm, body corporate or other association shall be appointed as an inspector—Section 45.
132. Winding-up on Equitable Ground: An application for winding up of LLP shall be moved by the Central Government to the Tribunal on just and equitable ground under Section______of the LLP Act—Section 51.
133. Chapter_____ of the LLP Act deals with the conversion of firm into LLP—Chapter X.
134. Under Section______of the LLP Act, a firm may convert into a LLP in accordance with the Second Schedule—Section 55.
135. Under Section______of the LLP Act, a private company may convert into a LLP in accordance with the Third Schedule—Section 56.
136. Under Section______of the LLP Act, an unlisted public company may convert into a LLP in accordance with the Fourth Schedule—Section 57.
137. The LLP shall, within _________days of the date of registration, inform the concerned Registrar of Firms or Registrar of Companies, as the case may be, with which it was registered under the provisions of the Indian Partnership Act, 1932 or the Companies Act, 2013 as the case may be, about the conversion and of the particulars of the LLP—15-Days.
138. A LLP may be wound up by the Tribunal, if, for a period of more than ______months, the number of partners of the limited liability partnership is reduced below two—Six-months. [Section 64]
139. Section 70 of the LLP Act, 2008 deals with—Enhanced Punishment.
140. Any person aggrieved by an order of Tribunal may prefer an appeal to the Appellate Tribunal. Every appeal shall be filed within a period of ______days from the date on which the copy of the order of the Tribunal is made available to the person aggrieved—60-Days + Extended 60 Days.[Section 72]

Compiled by Team LegalMines.