Company Law : MCA Issues Important Clarification to Rectify an Anomaly in Extension of LLP Settlement Scheme, 2020 & Due Date of Filing Form...
Corporate Law : INTRODUCTION In the year 2003, when Naresh Chandra committee, submitted its report entitling “Report of the Committee on Regulat...
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 ...
Company Law : The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Mi...
Company Law : Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020...
CA, CS, CMA : The Institute of Company Secretaries of India (ICSI) has written a letter to the Secretary of the Ministry of Corporate Affairs, r...
Corporate Law : As per record, 4,73,131 number of Indian Companies and 1065 number of Foreign Companies have benefited by availing the CFSS, 2020 ...
Company Law : Ministry of Corporate Affairs Extending deadline of Companies Fresh Start Scheme and LLP Settlement Scheme Posted On: 23 MAR 2021 ...
Company Law : MCA has raised the threshold of default under section 4 of Insolvency and Bankruptcy Code (IBC) to Rs. 1 crore from the existing t...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Company Law : Handoo & Handoo Legal Consultants Vs. Union of India (Delhi High Court) The plea of the petitioner(s) in the present applicati...
Company Law : Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 202...
Company Law : 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 lat...
Company Law : in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to ...
Company Law : Ministry of Corporate Affairs introduces the 'Companies Fresh Start Scheme, 2020' and revised the 'LLP Settlement Scheme, 2020' to...
Income Tax : 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, ...
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 […]
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 of default, and make […]
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 because of failure […]
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 […]
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 against the defaulting LLPs. […]
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 For COVID-19 and Notification for […]
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 standing non-compliant LLPs […]
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 known as […]
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 […]
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 2020) to advance defaulting Companies/LLPs […]
