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In pursuance of the Government of India’s efforts to provide relief to law abiding companies and in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the ‘Revised LLP Settlement Scheme, 2020‘which is already in vogue a first of its kind opportunity to LLPs to make good any filing related defaults, irrespective of duration of default, and make a fresh start as a fully compliant entity.
The comparative analysis of the modification made in LLP Settlement Scheme, 2020 by MCA with General Circular No. 13/2020 dated 30/03/2020 is as follows:
| S. No. | Particulars | LLP Settlement Scheme, 2020 (Revised) | LLP Settlement Scheme, 2020 (Original) |
| 1
|
Period for which Scheme is open: | 01/04/2020 to 30/09/2020 | 16/03/2020 to 13/06/2020 |
| 2
|
Applicability :
|
A defaulting LLP# for filing belated documents@ due till 31st August 2020 | A defaulting LLP# for filing belated documents due till 31st October 2019 |
| #A defaulting LLP means a LLP which has default in filing any documents due under LLP act and Rules made there under | #A defaulting LLP means a LLP which has default in filing any documents due under LLP act and Rules made there under | ||
| @belated documents means all documents and forms which required to be filed with MCA 21 registry under LLP Act and Rules made there under | |||
| 3
|
Benefits
|
1. Pay only Normal fees, no additional fee payable | 1. Pay only Normal fees, and additional fee payable Rs. 10 per day of default subject to maximum of Rs. 5000 per document |
| 2. Immunity from launch of prosecution* | 2. Immunity from launch of prosecution* | ||
| * only pertaining to delay associated with filing of belated documents | * only pertaining to delay associated with filing of belated documents | ||
| 4 | LLP for which this scheme is not applicable: | 1. LLP which have voluntary filed application for Striking off the name | 1. LLP which have voluntary filed application for Striking off the name |
| 5
|
Forms for which this scheme is applicable
|
all documents and forms which required to be filed with MCA 21 registry under LLP Act and Rules made there under
|
1. Form 3 : Information regarding to LLP Deed and changes |
| 2. Form 4 : Notice of appointment/cessation, Change in name/address/designation and Consent to become in relation to partner or designated partner | |||
| 3. Form 8 : Statement of Account & Solvency | |||
| 4. Form 11 ; Annual Return | |||
| No other forms except above |
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