LLP Settlement Scheme

MCA removes anomaly in due date extension of Filing LLP Form 8

Company Law - MCA Issues Important Clarification to Rectify an Anomaly in Extension of LLP Settlement Scheme, 2020 & Due Date of Filing Form 8 for FY 2019-20. All Limited Liability Partnerships (LLPs) registered under Limited Liability Act, 2008, are required to file two statutory forms viz. Form 11 and Form 8, annually. The Annual Return in Fo...

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Filing Requirement For LLP

Company Law - INTRODUCTION In the year 2003, when Naresh Chandra committee, submitted its report entitling “Report of the Committee on Regulation of Private Companies and Partnerships” and subsequently in the year 2005 when Dr Jamshed J. Irani committee came up with its report on Company Law, they both felt the need for the development of some kind...

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LLP- 8 Due Date F.Y. 2019-20

Company Law - In this editorial author discusses due date of filling of LLP-8 with Registrar of Companies for financial year 2019-20 along with date of signing of Financial Statement of LLP-8. Lots of professionals has asked us about extension in filing of e-form LLP-8 for f.y. 2019-20. Provisions of Law: As per Section 34 read with rule […]...

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Extension of Various Compliances By Ministry of Corporate Affairs

Company Law - The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain p...

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7 Due dates extended by MCA to 31st December, 2020

Company Law - Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...

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MCA Extended duration of several Schemes till 31.12.2020

Company Law - MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched for ease of doing Business, Schemes extended are as follows:- 1. Companies Fresh Start Scheme, 2020 2. LLP Settlement Scheme, 2020 3. Scheme for relaxation of time for filing forms related to Creation or Modifi...

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Extend CFSS 2020 & LLP Settlement Scheme 2020

Company Law - Request for Extension of Companies Fresh Start Scheme i.e. CFSS 2020 by at least by 3 months i.e. until 31st December, 2020 and a further request for similar relief for LLP Settlement Scheme 2020 in view of genuine hardships which have arisen due to Covid-19 pandemic. KARANATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R.) Date: 17th Sept...

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LLP Settlement Scheme, 2020 benefit cannot be denied on Form uploaded pursuant to Court Order

Handoo & Handoo Legal Consultants & ANR. Vs. Union of India (Delhi High Court) - Handoo & Handoo Legal Consultants Vs. Union of India (Delhi High Court) The plea of the petitioner(s) in the present applications is that they have been denied the benefit of the Scheme only on the ground that they uploaded the forms pursuant to the order dated 06.12.2018 of this Court. The lear...

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MCA permits documents due for filing till 30.11.2020 under LLP Settlement Scheme

General Circular No. 37/2020 - (09/11/2020) - Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020. General Circular No. 37/2020– MCA permits Any ‘defaulting LLP’ to tile belated documents, which were due for filing till 30th November, 2020 in accor...

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LLP Settlement Scheme 2020 extended to 31.12.2020

General Circular No. 31/2020 - (28/09/2020) - MCA had introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults. General Circular No. 31/2020 F. No. 1...

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MCA modifies LLP Settlement Scheme 2020

General Circular No. 13/2020 - (30/03/2020) - in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to address the COVID-I9 threat and to reduce their compliance burden, certain modifications to the LLP Settlement Scheme, 2020 have been decided to be implemented with effec...

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MCA introduces Companies Fresh Start Scheme 2020 & Revises LLP Settlement Scheme 2020

NA - (30/03/2020) - Ministry of Corporate Affairs introduces the 'Companies Fresh Start Scheme, 2020' and revised the 'LLP Settlement Scheme, 2020' to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19...

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FM relaxes Tax & Regulatory Compliance in view of COVID-19 outbreak

Release ID: 1607942 - (24/03/2020) - Extend last date for income tax returns for (FY 18-19) to 30th June, 2020. Aadhaar-PAN linking date to be extended to 30th June, 2020....

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Recent Posts in "LLP Settlement Scheme"

MCA removes anomaly in due date extension of Filing LLP Form 8

MCA Issues Important Clarification to Rectify an Anomaly in Extension of LLP Settlement Scheme, 2020 & Due Date of Filing Form 8 for FY 2019-20. All Limited Liability Partnerships (LLPs) registered under Limited Liability Act, 2008, are required to file two statutory forms viz. Form 11 and Form 8, annually. The Annual Return in Fo...

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Posted Under: Company Law |

MCA permits documents due for filing till 30.11.2020 under LLP Settlement Scheme

General Circular No. 37/2020 (09/11/2020)

Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020. General Circular No. 37/2020– MCA permits Any ‘defaulting LLP’ to tile belated documents, which were due for filing till 30th November, 2020 in accordance with the provisions of LLP Settlem...

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Filing Requirement For LLP

INTRODUCTION In the year 2003, when Naresh Chandra committee, submitted its report entitling “Report of the Committee on Regulation of Private Companies and Partnerships” and subsequently in the year 2005 when Dr Jamshed J. Irani committee came up with its report on Company Law, they both felt the need for the development of some kind...

Read More
Posted Under: Company Law |

LLP- 8 Due Date F.Y. 2019-20

In this editorial author discusses due date of filling of LLP-8 with Registrar of Companies for financial year 2019-20 along with date of signing of Financial Statement of LLP-8. Lots of professionals has asked us about extension in filing of e-form LLP-8 for f.y. 2019-20. Provisions of Law: As per Section 34 read with rule […]...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020 benefit cannot be denied on Form uploaded pursuant to Court Order

Handoo & Handoo Legal Consultants & ANR. Vs. Union of India (Delhi High Court)

Handoo & Handoo Legal Consultants Vs. Union of India (Delhi High Court) The plea of the petitioner(s) in the present applications is that they have been denied the benefit of the Scheme only on the ground that they uploaded the forms pursuant to the order dated 06.12.2018 of this Court. The learned counsel for the […]...

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Extension of Various Compliances By Ministry of Corporate Affairs

The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain p...

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Posted Under: Company Law |

7 Due dates extended by MCA to 31st December, 2020

Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...

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Posted Under: Company Law |

Extension of timelines for various Company Law compliances under Companies Act, 2013

Keeping in view the practical difficulties being faced on account of Covid-19, MCA to facilitate Ease of doing business has granted following reliefs to Companies/LLPs by way of Circulars and Amendments to Rules dated 28.09.2020: 1. Extension of Companies Fresh Start Scheme, 2020 (CFSS): CFSS Scheme which was to end on 30.09.2020 Vide Gen...

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Posted Under: Company Law |

MCA Extended duration of several Schemes till 31.12.2020

MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched for ease of doing Business, Schemes extended are as follows:- 1. Companies Fresh Start Scheme, 2020 2. LLP Settlement Scheme, 2020 3. Scheme for relaxation of time for filing forms related to Creation or Modifi...

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Posted Under: Company Law |

Extension of CFSS, LLP Settlement & Various Schemes Till 31.12.2020

General Circular No. 30/2020, 31/2020, 32/2020, 33/2020 (28//0/9/20)

The Ministry of Corporate Affairs introduced several schemes {Companies Fresh Start Scheme, 2020 (CFSS) General Circular No. 30/2020, LLP settlement Scheme 2020 General Circular No. 31/2020, Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 General Circular No. 33/2...

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Posted Under: Company Law |

LLP Settlement Scheme 2020 extended to 31.12.2020

General Circular No. 31/2020 (28/09/2020)

MCA had introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults. General Circular No. 31/2020 F. No. 17/61/2016-CL-V-Pt.I Government of India ...

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Extend CFSS 2020 & LLP Settlement Scheme 2020

Request for Extension of Companies Fresh Start Scheme i.e. CFSS 2020 by at least by 3 months i.e. until 31st December, 2020 and a further request for similar relief for LLP Settlement Scheme 2020 in view of genuine hardships which have arisen due to Covid-19 pandemic. KARANATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R.) Date: 17th Sept...

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Posted Under: Company Law |

Companies Fresh Start Scheme, 2020 & LLP Modified Settlement Scheme, 2020

In order to provide relief to law-abiding Companies and Limited Liability Partnerships (LLPs) from the COVID 19 impact, the Ministry of Corporate Affairs (MCA), has introduced the ‘Companies Fresh Start Scheme, 2020‘ and revised the ‘LLP Modified Settlement Scheme, 2020‘. Both schemes provide a one-time waiver o...

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Posted Under: Company Law |

Registration/Incorporation of LLP (Limited Liability Partnership)

Introduction With the emergence of ideas, more & more people are thinking to do something of their own like running a startup or business etc., for that having a separate legal entity is like “Cherry on the cake” these days. Many options are there to run a business like registering it as a Sole proprietorship, […]...

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Posted Under: Company Law |

Extension of due date of Form 11 LLP

What is Form 11 LLP? Form 11 is Form for filing Annual Return of Limited Liability Partnership (LLP) with the Registrar. When is Form 11 required to be filed? Form 11 is to be filed within 60 days of closure of its financial year. Therefore, the due date is 30th May. Is the due date […]...

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Posted Under: Company Law |

Big Relaxation For Defaulting LLP’s – LLP Settlement Scheme-2020

LLP Settlement Scheme 2020 is a one-time relaxation provided to LLP’s which have defaulted in filing the statutory documents within the required due dates. The LLP’s which opt for this scheme shall not be required to pay additional fees. This scheme has been implemented by the Central Government in exercise of its powers under Section...

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Posted Under: Company Law |

How Non-Compliant Company/LLP Will Get Benefit From CFSS Scheme & amended LLP Scheme

As a result of the receipt of multiple representations from various stakeholders for granting this time opportunity to make the default good, the Ministry of Corporate Affairs (MCA) vide circular no.12/20 has notified a scheme for the companies registered in India who have defaulted in filing necessary documents & returns in the pas...

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Posted Under: Company Law |

Company Fresh Start Scheme and LLP Settlement Scheme

Company Fresh Start Scheme and LLP Settlement Scheme is a one-time waiver of additional filing fees for delayed filings by the companies or LLPs with the Registrar of Companies during the currency of the Schemes, i.e. during the period starting from 1st April, 2020 and ending on 30th September, 2020....

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Posted Under: Company Law |

LLP Settlement Scheme, 2020 (Modified)

Good News for Defaulting LLPs by Central Government in the form of introduction of LLP Settlement Scheme, 2020 The Government of India through Ministry of Corporate Affairs (MCA) has taken several measures in the year 2020 to promote ease of doing business in India. One such measure is issuance of ‘LLP Settlement Scheme, 2020’...

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Posted Under: Company Law |

LLP- Taxation and other aspects

Today while we are in lockdown period, let us understand the structure of Limited Liability Partnership firm which is most favoured by the businesses in recent times. Limited Liability Partnerships (LLP) came into effect through The Limited Liability Partnership Act, 2008 (the LLP Act). The Rules made under the LLP Act have been notified ...

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Posted Under: Company Law |

Origin and Scheme “Company’s Fresh Start Scheme, 2020”

Company’s Fresh Start Scheme, 2020 Government of India has released several measures granting relaxation to businesses to combat COVID-19 Outbreak, the Ministry of Corporate Affairs (MCA) has also come up with specific measures for Companies and LLP’s. What Comes First……… The Companies (Registration Offices and Fees) Second Amen...

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Posted Under: Company Law |

Difference in Companies fresh start scheme, 2020 & LLP settlement scheme, 2020

Article explains Background, Duration, Applicability, Non-Applicability and Manner of Payment under Companies Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020. It further explains about Immunity from Prosecution and Application for Issuance of Immunity Certificate under Companies Fresh Start Scheme, 2020 and LLP Settlement Scheme,...

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Posted Under: Company Law |

50 FAQs on CFSS 2020 & LLP Modified Settlement Scheme 2020

50 FAQs issued by MCA on Companies Fresh Start Scheme (CFSS), 2020 and LLP Modified Settlement Scheme, 2020 Thus, Ministry has launched a scheme known as ‘Companies Fresh Start Scheme, 2020‘ and ‘LLP Modified Settlement Scheme, 2020′ condoning the delaying filing the above mentioned documents with Registrar, it rel...

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Posted Under: Company Law |

Relaxations under Companies & LLP Act amid COVID-19 Outbreak

Relaxations Under Companies Act, 2013 (CA-2013) And Limited Liability Partnership Act, 2008 In View of COVID-19 Outbreak. MCA vide its General Circular 11/2020 dated March 24, 2020 issues some relaxations under Companies Act, 2013 (CA-2013) and Limited Liability Partnership Act, 2008 in view of COVID-19 outbreak. In order to support and e...

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Posted Under: Company Law |

Changes/modification to LLP Settlement Scheme, 2020

General Circular No. 13/2020

A. MCA in continuation with its LLP SETTLEMENT SCHEME, 2020 vide General Circular No. 06/2020 dated on March 04, 2020 issues MODIFIED LLP SETTLEMENT SCHEME, 2020 vide general circular no 13/2020 dated March 30, 2020 in order to provide relief to defaulting LLPs registered in India. B. Following are the changes/modification made to Scheme:...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020- Applicability and Key Points

LLP Settlement Scheme, 2020 is applicable to any defaulting LLP i.e. LLP registered under Limited Liability Partnership Act, 2008 and which has made default in filing of documents on the due dates specified under LLP act 2008 and the rules made there under and which were due to be filed till 31st October, 2019....

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Posted Under: Company Law |

10 FAQs on Modified LLP Settlement Scheme, 2020

FAQ on LLP Settlement Scheme, 2020 As Modified By MCA General Circular No. 13/2020 Dated 30.03.2020 With a view to deal with the current financial and economic fall-out, due to the outbreak of COVID-19, the Ministry of Corporate Affairs has come up with certain important reliefs for the Corporate Sector. On 4th March, 2020 the […]...

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Posted Under: Company Law |

Conceptual summary of LLP Settlement Scheme, 2020

With a view to promote the Government of India’s efforts to provide relief in the wake of COVID 19, the Ministry of Corporate Affairs has introduced the ‘LLP Settlement Scheme, 2020‘ to provide an opportunity to  the Limited Liability Partnerships’ (LLPs) to make good any filing related defaults, irrespective of duration ...

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Posted Under: Company Law |

Brief Analysis of LLP Settlement Scheme, 2020

Reasons for which this scheme introduced by the Ministry of Corporate Affairs- -Filling of delay documents/returns attracts 100 per day of default for each return and documents which put the financial burden on the LLP that’s why this scheme is introduced for waiver of additional fees. -Regulators don’t have records for inspection bec...

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Posted Under: Company Law |

Revised LLP Settlement Scheme, 2020 – Why Introduced?

Meaning of LLP: As per Section 2(n) of Limited Liability Partnership Act, 2008, an LLP means a partnership formed and registered under this Act. As per Section 3 it’s: A body corporate formed and incorporated under this Act and is a legal entity separate from that of its partners. A limited liability partnership shall have […]...

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Posted Under: Company Law |

Revised LLP Settlement Scheme 2020–7 Key Take-Aways

Ministry of Corporate Affairs (MCA), regulatory body of corporate sector in India, vide its General Circular No 06/2020 dated March 04, 2020 and further modified vide General Circular No. 13/2020 dated 30th March, 2020, launched a one-time settlement scheme for the LLPs to grant one time immunity from additional fees and prosecution agai...

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Posted Under: Company Law |

Recent updates Related to Companies Compliances that you Must Know

Article explains Recent updates Related to Compliance in pursuance of General Circular No. 11 dated 24th March,2020 & General Circular No. 12 dated 30th March,2020, Companies Fresh Start Scheme, 2020 and Revised LLP Settlement Scheme,2020, Clarification on contribution to PM Cares Fund as Eligible CSR Activity, Spending of CSR Funds F...

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Posted Under: Company Law |

Analysis on LLP Settlement Scheme, 2020

The Limited Liability Partnership (LLP) is viewed as an alternative corporate business vehicle that provides the benefits of not only limited liability but also allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. In order to give an opportunity to the long stand...

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Posted Under: Company Law |

Comparison of Modified LLP Settlement Scheme, 2020 with Original

MCA Modifies LLP Settlement Scheme, 2020 due to Corona Virus. A comparison between original and modified scheme Recently, the Ministry of Corporate Affairs which regulates the functioning of corporate sector in india had vide its General Circular No. 06/2020 dated March 04, 2020 launched a one time settlement scheme for the LLPs popularly...

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Posted Under: Company Law |

20 FAQs on Modified LLP Settlement Scheme, 2020

A large number of representations were received from various quarters for waiver of fee or condonation of delay and relaxations in additional fee on the ground of excessive financial burden. It is also noted that a large number of LLPs are not filing their due statutory documents which are required to be filed with the […]...

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Posted Under: Company Law |

Companies Fresh Start Scheme, 2020 for Non-Compliant Companies

WHAT WAS THE NEED TO INTRODUCE COMPANIES FRESH START SCHEME, 2020 (CFSS 2020) AND AMENDED THE LLP SETTLEMENT SCHEME, 2020 (LLP SCHEME 2020)? The Ministry of Corporate Affairs (MCA) vide its notification dated 30th March 2020 has given Companies Fresh Start Scheme, 2020 (CFSS 2020) and amended the LLP Settlement Scheme, 2020 (LLP Scheme...

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Posted Under: Company Law |

ICAI FAQs on Modified LLP Settlement Scheme, 2020

Revised Frequently Asked Questions on LLP Settlement Scheme, 2020 issued by the Ministry of Corporate Affairs, Government of India on 4th March, 2020 and modified as on 30th March, 2020 The Ministry of Corporate Affairs has provided a one-time opportunity to the LLPs to make good their default by filing pending documents and to serve [&he...

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Posted Under: Company Law |

Revised LLP Settlement Scheme-2020

If the Defaulting LLP doesn’t take benefit of LLP Settlement Scheme – 2020, then the said LLPs have to file forms with additional fees as per Section 69 of Limited Liability Partnership Act, 2008 i.e. ₹ 100/- for each day of such delay in addition to any fee as is payable OR Registrar may Initiate Prosecution against Defaulting LLPs...

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Posted Under: Company Law |

Companies Fresh Start Scheme, 2020- Advantages, Immunity, Applicability

The Ministry of Corporate Affairs (‘MCA’) has introduced ‘COMPANIES FRESH START SCHEME 2020’ (CFSS-2020) to enable all companies registered in India to make good of any filing related defaults irrespective of the duration of default and make a fresh start as a fully compliant Indian entity. COMPANIES FRESH START SCHEME, 20...

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Posted Under: Company Law |

9 FAQs on Limited Liability Settlement Scheme 2020

AN INTRODUCTION Ministry of Corporate Affairs (MCA) introduced a scheme which gives an opportunity to the Limited Liability Partnership(LLP) to make all its pending compliances (including annual filing) without any additional fees. This means that the Limited Liability Partnership(LLP) can file the pending documents with only normal fees ...

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Posted Under: Company Law |

Companies Fresh Start Scheme 2020: Golden Opportunity For Companies & LLP’s

Introduction & Brief Background: In line with its circular dated March 24, 2020, the Ministry of Corporate Affairs (‘MCA’) has introduced Companies Fresh Start Scheme,2020 (‘CFSS Scheme’) vide circular no. 12/2020 and 13/2020 dated March 30, 2020 under Section 460 of the Companies Act, 2013 (“Act”) read with Section 403. I...

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Posted Under: Company Law |

List of Forms Eligible for Additional Fee Waiver Under Company Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020

List of Forms Eligible for Additional Fee Waiver Under Company Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020 The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under sect...

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Posted Under: Company Law |

List of 76 forms allowed to be filed under CFSS-2020 & LLPSS-2020

List of 76 forms which can be filed with MCA under Fresh Start Scheme, 2020 (CFSS -2020) and Modified LLP Settlement Scheme, 2020 (LLPSS-2020) and which are eligible for additional fees waiver. MCA has released a list of 76 forms which  will be allowed to be filed with MCA under Fresh Start Scheme, 2020 (CFSS […]...

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Posted Under: Company Law |

CFSS -2020 & LLPSS-2020- List of Forms, FAQs, Clarifications 

Fresh Start Scheme, 2020 (CFSS -2020) and Modified LLP Settlement Scheme, 2020 (LLPSS-2020)- Golden Opportunity to clean the slate. List of Forms and certain FAQs/ Clarifications  This Scheme is for Defaulting Companies who have failed to file the Forms, Returns, Statement or Documents with Ministry of Corporate Affairs. You may say that...

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Posted Under: Company Law |

Companies Fresh Start Scheme 2020 & LLP Settlement Scheme 2020

Companies Fresh Start Scheme 2020 and Modified LLP Settlement Scheme 2020 Launched by MCA From April 1, 2020 till Sept 30,2020 The ministry of corporate affairs has announced ‘Companies Fresh Start Scheme 2020’ and ‘LLP Settlement Scheme 2020’. Individually the schemes ought to release to make available a chance to...

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Posted Under: Company Law |

Modified LLP Settlement Scheme, 2020

In order to boost the economy & give relief to the corporates, the Government has introduced various schemes. One of the recently introduced schemes is LLP SETTLEMENT SCHEME, 2020...

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Posted Under: Company Law |

FRESH START—a new slate to Companies and LLPs in India

FRESH START—a new slate to Companies and LLPs in India – An opportunity to be a COMPLIANT ENTITY Let’s discuss WHY,WHAT, HOW & FOR WHOM, on the closure of financial year on 30th March 2020 and in the mid of Nationwide Locked Out situation due to outbreak of Covid-19 pandemic, the Ministry of Corporate Affairs […]...

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Posted Under: Company Law |

Company Fresh Start Scheme (CFSS), 2020 & Modified LLP Settlement Scheme, 2020

Company Fresh Start Scheme (CFSS), 2020 & Modified LLP Settlement Scheme, 2020 In line with government initiative to ease of doing business & good corporate governance, the Ministry of Corporate Affairs (MCA) has come up with the ‘Companies Fresh Start Scheme 2020’ to enable defaulting companies make good of any filing-related...

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Posted Under: Company Law |

Summary of Modified LLP Settlement Scheme, 2020

♦ Overview Ministry of Corporate Affairs (MCA) has vide General Circular No. 13/2020  dated 30th March, 2020,  modified the provisions related to LLP SETTLEMENT SCHEME, 2020. ♦ Revised Timeline : Applicable w.e.f. 01.04.2020 And shall remain into Force upto 30.09.2020. ♦ Previous Scheme: LLP SETTLEMENT SCHEME , 2020 vide General C...

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Posted Under: Company Law |

Modification made in LLP Settlement Scheme, 2020

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, irres...

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Posted Under: Company Law |

MCA modifies LLP Settlement Scheme 2020

General Circular No. 13/2020 (30/03/2020)

in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to address the COVID-I9 threat and to reduce their compliance burden, certain modifications to the LLP Settlement Scheme, 2020 have been decided to be implemented with effect from 01.04.2020 vide General Circular ...

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MCA introduces Companies Fresh Start Scheme 2020 & Revises LLP Settlement Scheme 2020

NA (30/03/2020)

Ministry of Corporate Affairs introduces the 'Companies Fresh Start Scheme, 2020' and revised the 'LLP Settlement Scheme, 2020' to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19...

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Brief on LLP settlement scheme, 2020

Central Government u/s 460 of the Companies act, 2013 vide Gazette Notification No. G.S.R. 59(E) dated 30th January, 2020 u/s 67(2) of LLP Act, 2008 introduced a scheme namely 'LLP SETTLEMENT SCHEME, 2020' by allowing a one time condonation of delay in filing statutorily required docs with the Registrar....

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Posted Under: Company Law |

LLP Settlement Scheme- Brief Analysis

There are many small enterprises who have formed an LLP (Limited Liability Partnership). It has been almost a decade that the LLP Act came into existence. Businesses started preferring LLP over partnership because of its benefits. However, there are many LLP who have not done their annual compliance. Delay in any form filing of LLP [&hell...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020 a Very Good Opportunity

LLP Settlement Scheme, 2020 is applicable only for Form -3, Form 4, Form 8 and Form 11 under LLP Act. The defaulting LLPs are permitted to file belated documents which were due for filling till October 31, 2019 in accordance with provisions of this scheme....

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Posted Under: Company Law |

LLP Settlement Scheme, 2020: Highlights

Introduction The Limited Liability Partnership (LLP) is seen as an alternative corporate business vehicle that gives the advantages of Limited Liability yet permits its individuals the flexibility of sorting out their inward structure as an organization in light of a mutually arrived agreement. Attributable to flexibility in its structu...

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Posted Under: Company Law |

FM relaxes Tax & Regulatory Compliance in view of COVID-19 outbreak

Release ID: 1607942 (24/03/2020)

Extend last date for income tax returns for (FY 18-19) to 30th June, 2020. Aadhaar-PAN linking date to be extended to 30th June, 2020....

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LLP settlement Scheme, 2020- Important Points and Provisions

MCA Circular no. 6/2020

LLP settlement Scheme, 2020 MCA vide its circular dated 4th March, 2020 has prescribed the LLP settlement Scheme, 2020 for those LLPs which have defaulted in filing of Form-3, Form-4, Form-8 and Form -11 (Details of Forms are mentioned below) by giving a one-time relaxation in additional fees to the defaulting LLPs to make good […]...

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LLP (Relaxation in Additional Fee) Scheme 2020

MCA vide its General circular No. 6/2020 dated 4th Day of March 2020 notify this scheme and this scheme would remain into force for a period of 3 months i.e. from 16th March 2020 to 13th June 2020. The objective of this scheme is to provide the one time relaxation in additional fees for filing […]...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020- Scope, Objective, Validity, Applicability

The Limited Liability Partnership (LLP)  is required to file periodic returns, information, apart from event based transactions, with the Registrar of Companies  via www.mca.gov.in. Such information filing relates to filing of LLP Agreement, Change in LLP Agreement [ LLP 3], Changes in Partners / Designated Partners [LLP 4],  Statement...

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Posted Under: Company Law |

Amnesty Scheme (LLP Settlement Scheme) – 2020

LLP Settlement Scheme, 2020 is initiated by Government of India in order to avoid long past pending issues and in order to generate revenue to system. Due to ease of doing business CG decide to give ‘onetime relaxation in additional fees to the defaulting LLP’s to make good their default by filling pending documents....

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Posted Under: Company Law |

LLP Settlement Scheme 2020 for defaulting LLPs wef 16.03.2020

What is LLP Settlement scheme 2020 The defaulting LLP (which has made default in filing of documents in due dates specified under LLP Act,2008) can file the documents which were due for filing till 31st October,2019 on payment of additional fees of Rs. 10/-per day instead of Rs. 100/- per day provided that such payment of additional fe...

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Posted Under: Company Law |

Settlement Scheme For Late Filing by Limited Liability Partnership (LLPs)

Central Government had decided to gift a Scheme LLP Settlement Scheme, 2020 to business owners who are operating the business in the form of Limited Liability Partnership structure. LLP Settlement Scheme, 2020 will remain open from 16th March, 2020 to 13thJune , 2020....

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Posted Under: Company Law |

ICAI FAQs on LLP Settlement Scheme, 2020

The Ministry of Corporate Affairs has provided a one time opportunity to the LLPs to make good their default by filing pending documents and to serve as a compliant LLP in future by introducing LLP Settlement Scheme, 2020 vide General Circular No 02/2020 dated 4th March, 2020 which will be applicable from 16th March, 2020 to 13th June, 20...

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LLP Settlement Scheme 2020 (16th March 2020 to 13th June 2020)

LLP Settlement Scheme as per the General Circular issued by the MCA dated 04.03.2020 via number 06/2020. LLP or Limited Liability Partnership is a form of business vehicle governed by the Limited Liability Partnership Act, 2008 or LLP Act, 2008 in short, combining the quality attributes of a Company and a Partnership Firm. It gives [&hell...

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Posted Under: Company Law |

Analysis of LLP Settlement Scheme, 2020 launched by MCA

Ministry of Corporate Affairs (MCA) has come up with a new scheme namely LLP Settlement Scheme, 2020 for Limited Liabilities Partnerships (LLPs), which are majorly small enterprises and struggle to make their feet stand in today’s sharp competitive market place.  Many times it has happened with these entities that, they do not have eno...

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Posted Under: Company Law |

LLP Amnesty Scheme 2020: One-time condonation for delay in filing statutory documents

LLP Settlement Scheme, 2020 is being introduced in pursuance of the Government’s objective of providing greater Ease of Living to the citizens of the country and is expected to provide significant relief and a window of opportunity for LLPs to abide by the Law & conduct business accordingly....

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Posted Under: Company Law |

LLP Settlement Scheme 2020 for Defaulting LLPs

LLP settlement scheme-2020- Defaulting LLPs Can Breathe A Sigh Of Relief!!!! Ministry of Corporate affairs vide its General Circular No. 6/2020‘ dated 04th March, 2020 notified ‘LLP settlement Scheme, 2020′. Article explains LLP Settlement Scheme-2020 in a Nutshell with FAQs. > LLP Settlement Scheme-2020 in a Nutshel...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020 – A welcome move for LLPs

The Central Government in exercise of its powers under Section 460 of the Companies Act, 2013 decided to introduce a scheme called “LLP Settlement Scheme, 2020” to grant the defaulting Limited Liability Partnership (LLP), a one-time window to condone the delay in filing of some statutorily required documents with Registrar. Ministry o...

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Posted Under: Company Law |

LLP Settlement scheme 2020- 7 FAQs

LLP Settlement scheme 2020, FAQ on 4 FORM and Rs. 5000 Maximum Late fees. 1. Who Can avail LLP Settlement scheme 2020? Any LLP which is active and which has not filed an application in Form 24 for striking of their name from the registrars as per provisions of Rule 37(1) of the LLP Rules, […]...

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Posted Under: Company Law |

Brief Overview of LLP Settlement Scheme 2020

As per one estimate, the scheme could benefit 20-25 per cent of the 1.25 lakh LLPs registered in the country*. To give one time opportunity to such defaulting LLPs, MCA, on March 4, 2020 announced LLP Settlement Scheme 2020 (Scheme). Under the Scheme, LLPs will be given a three-month window to complete overdue filings of […]...

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Posted Under: Company Law |

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 16th March, 2020 and shall remain in force up to 13th June, 2020.  LLPs, that wish to av...

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Posted Under: Company Law |

LLP Settlement Scheme, 2020 to remove default in Form Submission

The Ministry of Corporate Affairs vide General Circular No.: 6/2020 has decided to give Onetime relaxation in additional fees to those Limited Liability Partnership (LLP) which were defaulted in filing of Form LLP-3 (Information with regard to limited liability partnership agreement and changes, if any, made therein), Form LLP-4 (Notice o...

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Posted Under: Company Law |

One Page Note On LLP Settlement Scheme, 2020

1. Applicability of LLP Settlement Scheme, 2020: – Any LLP which has made a default in filing of specified forms on the due date is permitted to file belated documents, under this Scheme. 2. Specified Forms: – (i) Form-3– Information with regard to limited liability partnership agreement and changes, if any, made therein...

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Posted Under: Company Law |

LLP Settlement Scheme 2020- 11 Things to Know

Q 1. What is the LLP SETTLEMENT SCHEME -2020? Ans. In order to promote ease of doing business, the Central Government decided to give a Onetime relaxation in additional fees to the defaulting LLPs to make good their default by filing pending documents and to serve as a compliant LLP in the future. This scheme […]...

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Posted Under: Company Law |

LLP settlement Scheme, 2020- For Defaulting LLPs

General Circular No. 06/2020 (04/03/2020)

LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar. LLP settlement Scheme, 2020 shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020. It has been observed that due to applicability of additional fee [&hellip...

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