LLP Settlement Scheme 2020- Condoning delay in form filing

Central Government has decided to introduce a scheme namely ‘LLP Settlement Scheme, 2020‘, by allowing a One-time con-donation of delay in filing statutorily required documents with the Registrar. The scheme shall come into force on the 16^th March, 2020 and shall remain in force up to 13^th June, 2020.

 LLPs, that wish to avail themselves of the scheme, may file the pending documents/Forms and make good the defaults, to gain immunity from prosecutions for such defaults.

• The above scheme would be applicable to a “defaulting LLP” for filing overdue documents, which were due for filing till 31^st October, 2019 on a payment of a nominal additional fee of Rs 10/- per day for the period of delay, in addition to any fee as is payable for filing of such document or return, subject to a maximum amount of Rs. 5,000/- as additional fee per document.
• Scheme shall apply to the filing of the following documents:

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

2. 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;

3. Form-8- Statement of Account & Solvency (Annual or Interim); and

4. Form-11– Annual Return of Limited Liability Partnership (LLP).

LLPs, that wish to avail themselves of the scheme, may file the pending documents/Forms and make good the defaults, to gain immunity from prosecutions for such defaults.

This Scheme provide significant relief and a window of opportunity for LLPs to abide by the Law & conduct business accordingly.

Note:

This Scheme is not applicable 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.