MODIFIED LLP SETTLEMENT SCHEME, 2020

MODIFIED LLP SETTLEMENT SCHEME, 2020. • OVERVIEW MINISTRY OF CORPORATE AFFAIRS (MCA) vide General Circular No. 13/2020 and File No. F. No. 17/61.2016-CL-V-Pt-I issued dated 30th March, 2020, has 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 Circular No. 6/2020 dated 04.03.2020 (Link) • Applicability of the this Scheme: Any Defaulting LLP is permitted to file belated documents, which were due for filing till 31.08.2020 in accordance with the provisions of this Scheme. • Manner of payment of fees and additional fee on filing belated document for seeking immunity under the Scheme: The defaulting LLPs may themselves avail of the scheme for filing documents which have not been filed or registered in time on payment of fee as payable for filing of such document / return. Provided that no additional fees shall be payable for filing and belated documents under this scheme. • Immunity from prosecution in respect of document(s) filed under the scheme: The defaulting LLP, which have filed their belated documents till 30.09.2020 and made good the default shall not be subjected to prosecution by the Registrar of such defaults. • The Scheme shall not apply: 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. • After 30.09.2020, the Registrar shall take necessary action under the LLP Act, 2008 against the LLPs which have not availed this Scheme and are in default in filing of documents as required under the provisions of LLP Act, 2008 in a timely manner. Click here to Download Disclaimer: IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.