LLP Act 37Chapter VII · Financial Disclosures
Section 37 · Penalty for false statement
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If in any return, statement or other document required by or for the
purposes of any of the provisions of this Act, any person makes a statement--
(a) which is false in any material particular, knowing it to be false; or
(b) which omits any material fact knowing it to be material,
he shall, save as otherwise expressly provided in this Act, be punishable with imprisonment for a term which may extend to two years, and shall also be liable to fine which may extend to five lakh rupees but which shall not be less than one lakh rupees.
(a) which is false in any material particular, knowing it to be false; or
(b) which omits any material fact knowing it to be material,
he shall, save as otherwise expressly provided in this Act, be punishable with imprisonment for a term which may extend to two years, and shall also be liable to fine which may extend to five lakh rupees but which shall not be less than one lakh rupees.
The offence at a glance
- Maximum punishment
- 2 years
- Fine
- ₹5,00,000
- Cognizable
- Non-cognizable
- Bailable
- Bailable
- Triable by
- Special court
- Non-cognizable — Police cannot investigate without a Magistrate's order
- Bailable — Bail is your right — it can be granted at the police station
Derived from the First Schedule Part II rule — not listed section by section
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