Start Date : 01.04.2020
End Date: 30.09.2020
As a part of Government's initiative of ease of doing business, Ministry of Corporate Affairs has come up with LLP Settlement Scheme which allows One-time condonation of delay in filing statutorily required documents with the Registrar.
Limited liability Partnership is a form of corporate structure that combines the flexibility of partnership of partnership firms and limited liability of a company. Due to applicability of huge additional fee on late filing, a large number of Limited Liability Partnerships (LLPs) have remained non-compliant, as high payment of late fees for the cumulative period of delay makes LLPs unable to pay.
Under this scheme any “defaulting LLP” is permitted to file belated documents which were due for filing till 31st August, 2020. Provided that no additional fee shall be payable for filing any belated documents under this scheme.
However, this scheme shall not apply to LLPs which have already filed Form 24 to the Registrar for strike off of LLP.
Applicability of Scheme - This scheme is applicable to following forms only -
(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); and
(iv) Form 11 - Annual Return of Limited Liability partnership (LLP)