MCA Update on “LLP Settlement Scheme 2020”

Features of Scheme:

  1. This scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020.
  2. The defaulting LLPs may themselves avail of the scheme for filing documents which have not been filed or registered in time on payment of additional fee Rs 10 - per day for delay in addition to any fee as is payable for filing of such document or return, provided that such payment of additional fee shall not exceed Rs. 5,000 - per document.
  3. The defaulting LLPs, which have filed their pending documents till 13th June 2020 and made good the default, shall not be subjected to prosecution by Registrar for such defaults.
  4. Scheme not to apply to certain documents-

(a.) This Scheme shall not apply to the filing of documents except the following documents:-

(i.) Form-3- Information with regard to limited liability partnership 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).

(b.) This Scheme shall not apply 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.

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