Explain the protection available for the "whistleblowers" in the context of the Limited Liability Partnership Act, 2008.

CA Intermediate · Corporate and Other Laws · PYQS · May 2024
Explain the protection available for the "whistleblowers" in the context of the Limited Liability Partnership Act, 2008.

Suggested Answer and Working Notes:

According to section 31 of 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 LLP, if it is satisfied that: such partner or employee of an LLP has provided useful information during investigation of such LLP; orwhen any information given by any partner or employee (whether or not during investigation) leads to LLP or any partner or employee of such LLP being convicted under this Act or any other Act. (2) No partner or employee of any LLP may be discharged, demoted, suspended, threatened, harassed or in any other manner discriminated against the terms and conditions of his LLP or employment merely because of his providing information or causing information to be provided pursuant to sub-section (1) .

Topics: The Limited Liability Partnership Act, 2008

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