The Ministry of Law has notified the Limited Liability Partnership (LLP) Amendment Act, 2021 which seeks to encourage the start-up ecosystem and further boost the ease of doing business.
The Central Government is empowered by the amendment, for the purpose of providing speedy trial of offenses under this Act, by notification, establish or designate as many Special Courts as may be necessary for such area or areas, as may be specified in the notification.
The amendment converts certain offences into civil defaults and changes the nature of punishment for these offences. It also defines small LLP, provides for the appointment of certain adjudicating officers, and establishment of special courts.
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