Cabinet clears amendment to LLP Act to decriminalise various provisions

With the approval, the total number of penal provisions in the Act will be reduced to 22, the number of compoundable offences will be only seven, the number of non-compoundable offences will be only three, and the number of defaults will be only 12, among others, Finance Minister Nirmala Sitharaman said after the Cabinet meeting.

from Economy-News-Economic Times https://ift.tt/2Wvs4lV