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[Cites 0, Cited by 1] [Section 31] [Entire Act]

Union of India - Subsection

Section 31(1) in The Limited Liability Partnership Act, 2008

(1)The Court or Tribunal may reduce or waive any penalty leviable against any partner or employee of a limited liability partnership, if it is satisfied that-
(a)such partner or employee of a limited liability partnership has provided useful information during investigation of such limited liability partnership; or
(b)when any information given by any partner or employee (whether or not during investigation) leads to limited liability partnership or any partner or employee of such limited liability partnership being convicted under this Act or any other Act.