Revised LLP Settlement Scheme-2020

Revised LLP Settlement Scheme-2020 in a Nutshell:

Particulars

Provision as per General Circular No. 6/2020 dated 04^th March, 2020

Modifications in LLP Settlement Scheme As per General Circular No. 13/2020 dated 30^th March, 2020.

Legal provision:

The Central Government in exercise of its power u/s 460 of the Companies Act, 2013 (extended to LLPs vide Gazette Notification No. G.S.R. 59(E) Dated 30^TH January, 2020 u/s 67 (2) of the Limited Liability Partnership Act, 2008) has decided to introduce a scheme namely “LLP Settlement Scheme, 2020”, by allowing a One-time condonation of delay in filing statutorily required documents with the Registrar.

No Modification in the said Provision.

Scheme Applicable From:

16^thMarch, 2020 up to 13^thJune, 2020.

01^st April, 2020 up to

30^th September,2020

Scheme Applicable To:

Defaulting LLP:Any “defaulting LLP” is permitted to file belated documents, which were due for filing till 31^st October, 2019 in accordance with the provisions of this Scheme. i.e. Forms that are due till 31^st October,2019 can only be considered for the said scheme.

“Defaulting LLP” means LLP registered under the Limited Liability Partnership Act, 2008 which has made a default in filing of documents on the due date(s) specified under the LLP Act, 2008 and rules made there under.

Defaulting LLP:Any “defaulting LLP” is permitted to file belated documents, which were due for filing till 31^stAugust, 2020 in accordance with the provisions of this Scheme. i.e. Forms that are due till 31^stAugust, 2020 only be considered for the said scheme.

Payment of Fees and Additional Fee as per LLP Settlement Scheme-2020:

The defaulting LLPs may file forms by making payment of additional fees of ₹10/- per day for each day during which the default continues (instead of ₹ 100/- for each day of such delay in addition to any fee as is payable as per section 69 of Limited Liability Partnership Act, 2008) subject to a maximum of ₹ 5,000/- per Form.

The defaulting LLPs may file form still 30^th September,2020, till then No Additional fees will be charged to file forms.

Scheme Applicable for following forms only:

i. Form-3: Information with regard to limited liability partnership Initial agreement and changes, if any, made therein;

ii. Form-4: Notice of appointment, cessation, change in name/ address/ designation of a designated partner or partner and consent to become a partner/designated partner;

iii. Form-8: Statement of Account & Solvency (Annual or Interim);

iv. Form-11: Annual Return of Limited Liability Partnership (LLP).

i. Form-3: Information with regard to limited liability partnership Initial agreement and changes, if any, made therein;

ii. Form-4: Notice of appointment, cessation, change in name/ address/designation of a designated partner or partner and consent to become a partner/designated partner;

iii. Form-8: Statement of Account & Solvency (Annual or Interim);

iv. Form-11: Annual Return of Limited Liability Partnership (LLP).

v. Form-15:Notice for change of place of registered office.

vi. Form-5: Notice for Change of Name.

vii. Form-12: Form for intimating other address for Service of Documents.

viii. Form-22: Notice of intimation of Order of Court/ Tribunal/CLB/ Central Government to the Registrar

ix. Form-31: Application for Compounding of an offence.

x. Form-23: Application for direction to Limited Liability Partnership (LLP) to change its name to the Registrar.

xi. Form-29 : Notice of (A) alteration in the certificate of incorporation or registration; (B) alteration in names and addresses of any of the persons authorized to accept service on behalf of a foreign limited liability partnership (FLLP) (C) alteration in the principal place of business in India of FLLP (D) cessation to have a place of business in India

Scheme not Applicable to:

LLPs that 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.

No Modification

Immunity from prosecution

The defaulting LLPs, which have filed their pending Forms till 13^thJune, 2020 and made good the default, shall not be subjected to prosecution by Registrar for such defaults.

The defaulting LLPs, which have filed their pending Forms till 30^th September, 2020 and made good the default, shall not be subjected to prosecution by Registrar for such defaults.

Upon Conclusion of Scheme:

The Registrar shall take necessary action under the Limited Liability Partnership Act, 2008 against the LLPs which have not availed this Scheme and are in default in filing of documents as required under the provisions of LLP Act, 2008 in a timely manner.

No Modification

IMPORTANT TIMELINES:

Commencement of Scheme on

1^st April, 2020

Scheme Shall remain in force upto

30^thSeptember,2020

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