The Limited Liability Partnership (Amendment) Bill 2021 was introduced in the Rajya Sabha on 29.07.2021. The Cabinet gave its approval to the Amendment Bill on 28.07.2021. The Bill seeks to facilitate greater ease of living to law-abiding corporates and to decriminalise certain provisions of the Act. Key changes as proposed in the bill includes as viz. introduction of concept of ‘small companies’, de-criminalisation of certain offences, empowering Govt. to establish special courts etc.
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