Earlier this week, the Limited Liability Partnership (Amendment) Bill, 2021, got the approval of our Lok Sabha. Thousands of limited liability partnerships (LLPs) sprang up. The revised LLP law will have fewer penal provisions, cut to 22 from 24, and 12 of these violations will no longer be deemed criminal. For them to be credit-worthy as a class, they must comply with stiffer regulations than they’d need to without a liability limit. They deserve an easier shot at success.

Source: Mint August 10, 2021 15:45 UTC