Extend timelines for filings by LLPs: ICSI

On account of practical difficulties faced by LLPs during the pandemic ICSI requested MCA to consider providing extension of the timelines for filing of e-form 8 and e-form 11 pertaining to financial year 2019-20 till 31^st March, 2021.

THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)

MCA: 2021

22nd January 2021

Shri Rajesh Verma, IAS
Secretary
Ministry of Corporate Affairs
Government of India
ShastriBhawan
Dr.Rajendra Prasad Road
New Delhi -110001

Subject: Extension in timelines for filings by LLPs-reg.

Respected Sir,

Amidst the pandemic, it is appreciable that the Ministry of Corporate Affairs (MCA) has been at the forefront in providing relief to the professionals and corporates. The LLP Settlement Scheme, 2020 launched by MCA, extended till 3 r December, 2020 has been availed by many stakeholders, provided much awaited relief and reduced the financial burden in the difficult times.

In terms of the provisions of Section 34(2) of LLP Act, 2008 read with Rule 7.4 of LLP Rules, 2009, every LLP shall within a period of 30 days from the end of six months of the financial year, submit the Statement of Accounts and solvency with the Registrar in e form 8. As per Section 35(1) of L,LP Act, 2008 read with Rule 25 of LLP Rules, 2009, every L.LP shall file an annual return with the Registrar within 60 days of closure of its financial year in e form 11.

We would like to draw your kind attention that many of the LLPs which have availed the benefit of the aforesaid scheme, whereas, there are many LLPs who on account of pandemic and challenges related thereto are yet, to file the e-form I ,P -8 (Statement of Accounts and Solvency) and e-form LLP- 11 (Annual Return).

We also would like to state that the timelines for filing of returns by other regulatory regime such as Income tax and GST were also extended upto 31st December, 2020. There are many companies and professionals who have been engaged in necessary filings under the aforesaid schemes and in completing the assignments under other regulatory regime such as Income Tax and GST.

Considering the above and on account of practical difficulties faced by stakeholders during the pandemic we request your goodself to consider providing extension of the timelines for filing of e-form 8 and e-form 11 pertaining to financial year 2019-20 till 31st March, 2021.

We hope that the above submissions shall be considered favorably. We shall he pleased to provide any further information in this regard on hearing from your goodself.

Thanking You,

Yours faithfully,

(CS Asish Mohan)
Secretary