Section 62(4) in The Limited Liability Partnership Act, 2008
(4)If default is made in complying with the provisions of sub-section (3), the limited liability partnership and its every designated partner shall be liable to a penalty of ten thousand rupees, and in case of the continuing default, with a further penalty of one hundred rupees for each day, after the first during which such default continues, subject to a maximum of one lakh rupees for limited liability partnership and fifty thousand rupees for every designated partner.Explanation.—For the purposes of this section,—(i)“property” includes property, rights and powers of every description and “liabilities” includes duties of every description;(ii)a “limited liability partnership” shall not be amalgamated with a company.’.
