LLP Settlement Scheme, 2020
MCA in its continuous endeavor for Ease of Doing Business have come across with a LLP Settlement Scheme, 2020 for one time Condonation of Delay in filing of statutorily required documents with ROC.
Why LLP Settlement Scheme, 2020?
Large number of LLP’s have defaulted in filing statutory forms with reference to:-
1. Form 3- LLP Agreement and changes therein;
2. Form 4- Appointment / Cessation of Designated Partner or partner
3. Form 8- Statement of Account
4. Form 11- Annual Return
In order to facilitate such LLPs to make their default good and updating the registry and records, Ministry have come across with LLP Settlement Scheme, 2020.
What is LLP Settlement Scheme, 2020?
· Scheme is optional in nature.
· The Scheme will came into force on 16th March, 2020 till 13thJune, 2020.
· Any defaulting LLP who haven’t completed their filings upto the date of 31stOctober, 2019 may avail the scheme.
· Defaulting LLP may file there documents in respective forms with an additional fee of Rs. 10/- day (in comparison to Rs. 100/- per day additional fees earlier) upto a maximum of Rs. 5000/- per document.
· No Prosecution for Designated Partners and LLP if default is made good till 13thJune, 2020.
· Scheme shall only apply to filing of following documents:-
1. Form 3- LLP Agreement and changes therein;
2. Form 4- Appointment / Cessation of Designated Partner or partner
3. Form 8- Statement of Account
4. Form 11- Annual Return
Non Applicability of Scheme
1. LLPs who doesn’t have any defaulting status.
2. LLPs who have made application in Form 24 for striking off the name from ROC.
For Any Queries or Requirements Contact:-
CS Arpit Garg
8447773833
info@compliancearena.in
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