MODIFIED LLP SETTLEMENT SCHEME, 2020

Ministry of Corporate Affairs (MCA) has in relation to Circular 06/2020 dated 04.03.2020, has brought certain modifications to the existing LLP Settlement Scheme 2020 in order to support and enable Limited Liability Partnership (LLP) registered in India to focus on taking necessary measures to combat the COVID-19  threat and to reduce their compliance burden.

This scheme shall be effective from 1st April, 2020 till 30th September,2020.

LLP Settlement

Applicability

 Any ‘defaulting LLP’ is permitted to file belated documents which were due for filing till 30th August, 2020 in accordance with the provisions of this scheme.

Note: Defaulting LLP means a LLP registered under Limited Liability Partnership Act, 2008 which has made a default in the filing of documents on the due date specified under the LLP Act,2008 and the rules made thereunder.

 Manner of payment of Fees on filing of belated documents for seeking Immunity under the scheme

 The defaulting LLPs may themselves avail of the scheme for filing documents which have not been filed or registered in time on payment of fee as payable for filing of such document / return.

Provided that no additional fees shall be payable for filing and belated documents under this scheme.

Immunity from prosecution in respect of document(s) filed under the scheme

The defaulting LLP, which have filed their belated documents till 30.09.2020 and made good the default shall not be subjected to prosecution by the Registrar of such defaults.

 The Scheme shall not apply to:

 This Scheme shall not apply to LLPs which has made an application in Form 24 to the Registrar, for striking off its name from the register as per provisions of Rule 37(1) of the LLP Rules, 2009.

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