“LLP Settlement Scheme, 2020? is
a scheme to give a onetime relaxation in additional fees to the defaulting LLPs
to make good their default by filing pending documents viz. Form Nos. 3, 4, 8 and 11
and to serve as a compliant LLP in future. Refer General Circular No 2/2020
available at the link -
a scheme to give a onetime relaxation in additional fees to the defaulting LLPs
to make good their default by filing pending documents viz. Form Nos. 3, 4, 8 and 11
and to serve as a compliant LLP in future. Refer General Circular No 2/2020
available at the link -
WHY YOU HAVE TO AVAIL LLP
SETTLEMENT SCHEME 2020?
SETTLEMENT SCHEME 2020?
Main Objective of the Scheme
The Ministry of Corporate
Affairs, as part of Government’s constant efforts to promote ease of doing business,
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.
Affairs, as part of Government’s constant efforts to promote ease of doing business,
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.
What is the Time Limit of this
Scheme ?
Scheme ?
The Scheme shall come into force
on the 16th March, 2020 and shall remain effective up to 31st
December 2020 (both days inclusive).
on the 16th March, 2020 and shall remain effective up to 31st
December 2020 (both days inclusive).
What is the Additional Fee to be
paid Under Scheme ?
paid Under Scheme ?
Under the scheme, for the
belated documents, the LLP shall pay statutory filing fees as prescribed under
the LLP Act and rules made there under along with an additional fee of Rs 10 per day, provided
that such payment of additional fee shall not exceed Rs. 5,000 per document.
belated documents, the LLP shall pay statutory filing fees as prescribed under
the LLP Act and rules made there under along with an additional fee of Rs 10 per day, provided
that such payment of additional fee shall not exceed Rs. 5,000 per document.
ON WHICH FILING THE SCHEME SHALL
BE APPLICABLE?
BE APPLICABLE?
Scheme shall be applicable inly
on filing of following documents :
on filing of following documents :
Form-3 |
Information with regard to limited liability partnership agreement and changes, if any, made therein |
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 |
Form-8 |
Statement of Account & Solvency (Annual or Interim) ; |
Form-11 |
Annual Return of Limited Liability Partnership (LLP). |
FOR WHICH LLPS THIS SCHEME IS NOT APPLICABLE?
This Scheme shall not apply to
LLPs which have 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.
LLPs which have 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.
IS THERE ANY IMMUNITY FROM
PROSECUTION IN RESPECT OF DOCUMENT(S) FILED UNDER THE SCHEME?
PROSECUTION IN RESPECT OF DOCUMENT(S) FILED UNDER THE SCHEME?
Yes, 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.
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.
WHAT ACTION REGISTRAR CAN TAKE
ON THE DEFAULTING LLPS WHICH HAVE NOT AVAILED THIS SCHEME AFTER CONCLUSION OF
THE SAME?
ON THE DEFAULTING LLPS WHICH HAVE NOT AVAILED THIS SCHEME AFTER CONCLUSION OF
THE SAME?
On the conclusion of the Scheme,
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.
The defaulting LLPs may be subjected to prosecution by Registrar for such
defaults.
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.
The defaulting LLPs may be subjected to prosecution by Registrar for such
defaults.
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