LLP settlement Scheme, 2020

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LLP settlement Scheme, 2020

 The Central Government in exercise of its power u/s 460 of the Companies Act, 2013 (extended to LLPs vide Gazette Notification No. G.S.R. 59 (E) Dated 30th January, 2020 uls 67 (2) of the Limited Liability Partnership Act, 2008) has decided to introduce a scheme namely “LLP Settlement Scheme, 2020”, by allowing a One-time condonation of delay in filing statutorily required documents with the Registrar.
• This scheme shall come into force on the 16th March, 2020 and shall remain in force up to 13th June, 2020.
• 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.
• Scheme not to apply to certain documents-
o (a.) This Scheme shall not apply to the filing of documents except the following documents:-
 Form-3
 Form-4
 Form-8
 Form-11
• 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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