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LLP Settlement Scheme 2020 is a one-time relaxation provided to LLP’s which have defaulted in filing the statutory documents within the required due dates. The LLP’s which opt for this scheme shall not be required to pay additional fees. This scheme has been implemented by the Central Government in exercise of its powers under Section 460 of the Companies Act 2013.
It will apply to all defaulting LLP’s except to those LLP’s which have filed Form 24 to the Registrar for striking off their name from the register pursuant to Rule 37(1) of the LLP Rules, 2009.
All forms that the LLP is required to file with MCA 21 under the provisions of the LLP Act 2008 and the LLP Rules 2009. Forms which were due till 31 August 2020 shall be allowed to be filed.
Effective from 1 April 2020 to 30 September 2020 (both days inclusive) (revised from the original period commencing on 16 March 2020 till 13 June 2020 as per General Circular No 13/2020 dated 30/03/2020).
– Immunity from prosecution shall be provided to the LLP as well as the defaulting partners, if the documents are filed within the said period, i.e. by 30 September 2020.
– If the defaulting LLP’S fail to utilize the scheme, the registrar shall proceed against the LLP, and the LLP may also be subject to prosecution.
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