The bill was approved by the cabinet earlier this week. Minister of state for finance Bhagwat Karad introduced it in the upper house.
Limited Liability Partnerships
The Limited Liability Partnership (Amendment) Bill, 2021, was also introduced in the upper house on Friday. As per the statement of objects and reason, itl seeks to amend certain sections of the Act so as to convert offences into civil defaults and to convert the nature of punishment from fines to monetary penalties.