Panel suggests provision for NCD issuance by LLPs
IANS 19 January 2021
The Company Law Committee on Decriminalisation of the Limited Liability Partnership Act, 2008, has recommended the inclusion of a provision in the Act for issuance of non-convertible debentures (NCD) by LLPs.
 
Among other recommendations, the committee has suggested decriminalisation of 12 offences under the LLP Act and the introduction of a new concept of "Small LLP".
 
As per the committee's report, it has suggested that the 12 offences should be shifted to the 'In-house Adjudication Mechanism'. One offence has been recommended for omission.
 
Under Section 7 of the LLP Act, every limited liability partnership shall have at least two designated partners and at least one of them has to be a resident of India. For the purposes of this section, the term "resident in India" means a person who has stayed in India for a period of not less than 120 days during the immediately preceding one year, as per the current norm.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
kalemohan
4 years ago
If you want what happens in Debenture story please recollect memories of RELIANCE DEBENTURE ISSUE history.
parth696
4 years ago
A useless company cheating small investors all the investors please come together and file a joint compliant against this chor company.
1. This company had withheld all the innocent investors at task on 01.02.2021 when market were galloping for no reason and incured heavy losses. please come forward and we file a PLI in the interest of the innocent investors against the company.
2. on Dt 02.02.2021 No notification was received on the terminal nor on the mail for auto square off for intraday at 2 pm. who have given this authority.
3.This company is prentending to be a discount Broker but it is a costliest broker then : Zerodha, SAMCO, Alice Blue as I have compared all this brokers on a single instrument on Intraday, in Derivatives and Options they are looting all the innocent investors and charging Rs 40/ 50 per trade for Rs 2 lac transaction as tansaction charge. I have incured a total loss of Rs 20 K in last 9 months on the pretext of Transaction charges . So I appeal to all the small investors to form a forum and lodge a cheating complaint against Upstox for why and what for they have charged this charges. Is SEBI aware of this. A Enquiry is a must.
3. All the small investors please file a a complaint of losses inccured due to the inturruption of software in upstox on dt 01.02.2021. should be reembursed to the innocent investors either form the CEO of the company or by the SEBI as they are collecting heavy taxes and EIPF.
All are free to contact me
Shirish S jadhav
9423003334
pankaj.gandhi85
Replied to parth696 comment 4 years ago
Hi Shirish, there is a telegram group with growing number of investors who suffered losses due to upstox. Please join this channel and people will come forward to file a complaint.
Telegram Group link -> https://t.co/wBm4n31wma?amp=1

Me too have lost a huge amount of money and would like to proceed with filing a complaint, even though complaint has been raised with NSE, scores, consumer forum.

Thanks to @MoneyLife for standing with small investors.
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