If, from any report under section 49, it appears to the Central Government that proceedings ought, in the public interest, to be brought by the limited liability partnership or any entity whose affairs have been investigated,--
(a) for the recovery of damages in respect of any fraud, misfeasance or other misconduct in connection with the promotion or formation, or the management of the affairs, of such limited liability partnership or such other entity; or
(b) for the recovery of any property of such limited liability partnership or such other entity, which has been misapplied or wrongfully retained,
the Central Government may itself bring proceedings for that purpose.
(a) for the recovery of damages in respect of any fraud, misfeasance or other misconduct in connection with the promotion or formation, or the management of the affairs, of such limited liability partnership or such other entity; or
(b) for the recovery of any property of such limited liability partnership or such other entity, which has been misapplied or wrongfully retained,
the Central Government may itself bring proceedings for that purpose.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Limited liability partnership to be body corporate.Section 4 · Non-applicability of the Indian Partnership Act, 1932.Section 5 · Partners.Section 6 · Minimum number of partners.Section 7 · Designated partners.Section 8 · Liabilities of designated partners.India Code, Government of India. Text fetched 25 Oct 2026. Source metadata reports last modification: 2019-12-02. Check the linked official text and subsequent notifications when applying a provision.