{"id":226512,"date":"2020-03-04T16:00:56","date_gmt":"2020-03-04T10:30:56","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=226512"},"modified":"2020-03-04T13:50:08","modified_gmt":"2020-03-04T08:20:08","slug":"llp-settlement-scheme-2020-launched-shall-allow-a-one-time-condonation-of-delay-in-filing-statutorily-required-documents-with-the-registrar","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/04\/llp-settlement-scheme-2020-launched-shall-allow-a-one-time-condonation-of-delay-in-filing-statutorily-required-documents-with-the-registrar\/","title":{"rendered":"LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar"},"content":{"rendered":"<p style=\"text-align: justify;\">It has been observed that due to applicability of additional fee on late filing, which in case of inordinate delay could actually become a financial burden, a large number of Limited Liability Partnerships (LLPs) have remained non-compliant, mainly on account of their inability to pay late fees for the cumulative period of delay.<\/p>\n<p style=\"text-align: justify;\">As part of the Government\u2019s constant efforts to promote ease of doing business, it has been decided to give a One-time relaxation in additional fees to the defaulting LLPs to make good their default by filing pending documents and to serve as a\u00a0 compliant LLP in future.<\/p>\n<p style=\"text-align: justify;\"><strong>Accordingly, the Central Government has decided to introduce a scheme namely \u201cLLP Settlement Scheme, 2020\u201d, by allowing a One-time condonation of delay in filing statutorily required documents with the Registrar.<\/strong><\/p>\n<p style=\"text-align: justify;\">LLPs, that wish to avail themselves of the scheme, may file the pending documents\/Forms and make good the defaults, to gain immunity from prosecutions for such defaults.<\/p>\n<p style=\"text-align: justify;\"><strong>The Scheme shall come into force on the 16<sup>th<\/sup> March, 2020 and shall remain in force up to 13<sup>th<\/sup> June, 2020<\/strong>. \u00a0It would be applicable to a \u201cdefaulting LLP\u201d for filing overdue documents, which were due for filing till 31<sup>st<\/sup> October, 2019 on a payment of a nominal additional fee of Rs 10\/- per day for the period of delay, in addition to any fee as is payable for filing of such document or return, subject to a maximum amount of Rs. 5,000\/- as additional fee per document.<\/p>\n<p style=\"text-align: justify;\">The Scheme shall apply to the filing of the following documents:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Form-3- Information with regard to limited liability partnership agreement and changes, if any, made therein;<\/li>\n<li>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;<\/li>\n<li>Form-8- Statement of Account &amp; Solvency (Annual or Interim); and<\/li>\n<li>Form-11- Annual Return of Limited Liability Partnership (LLP).<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">The Scheme is being introduced in pursuance of the Government\u2019s objective of providing greater Ease of Living to the citizens of the country and is expected to provide significant relief and a window of opportunity for LLPs to abide by the Law &amp; conduct business accordingly.<\/p>\n<hr \/>\n<p><strong>Ministry of Corporate Affairs<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Source: PIB]<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Press Release dt. 04-03-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It has been observed that due to applicability of additional fee on late filing, which in case of inordinate delay could actually <\/p>\n","protected":false},"author":8808,"featured_media":209748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[2552,39858,39857],"class_list":["post-226512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business_news","category-news","tag-Condonation_of_delay","tag-limited-liability-partnerships","tag-llp-settlement-scheme-2020"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LLP settlement Scheme, 2020 launched ; 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\u201cCompanies Fresh Start Scheme, 2020\u201d and revised \u201cLLP Settlement Scheme, 2020\u201d to provide relief to law abiding companies and Limited Liability Partnerships in the wake of COVID-19","author":"Bhumika Indulia","date":"April 1, 2020","format":false,"excerpt":"In pursuance of the Government of India\u2019s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the \u201cCompanies Fresh Start Scheme, 2020\u201d and revised the \u201cLLP Settlement Scheme, 2020\u201d which is already\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":267574,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/30\/mca-grants-relaxation-to-llps-in-additional-fees-for-delay-in-filing-form-11-upto-june-30-2022\/","url_meta":{"origin":226512,"position":2},"title":"MCA grants relaxation to LLPs in additional fees for delay in filing form 11 upto June 30, 2022","author":"Bhumika Indulia","date":"May 30, 2022","format":false,"excerpt":"On May 27, 2022, the Ministry of Corporate Affairs in view of transition from version-2 of MCA-21 to version-3 and to promote compliance on part of LLPs has granted relaxation to Limited Liability Partnership (LLPs) to file e-form 11 (Annual Return of LLP) for the financial year 2021-2022 without paying\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-156.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":252474,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/10\/limited-liability-partnership-amendment-bill-2021-passed-by-lok-sabha\/","url_meta":{"origin":226512,"position":3},"title":"Limited Liability Partnership (Amendment) Bill, 2021 passed by Lok Sabha","author":"Bhumika Indulia","date":"August 10, 2021","format":false,"excerpt":"On August 10, 2021, the Limited Liability Partnership (Amendment) Bill, 2021 passed by the Lok Sabha. It was passed by the Rajya Sabha on August 04, 2021. The amendment seeks to amend LLP Act, 2008. Key highlights: De-criminalization of procedural & technical defaults under LLP Act, 2008 will incentivize compliance\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/parliamentSM.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":201053,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/09\/07\/limited-liability-partnership-in-the-wake-of-start-up-era\/","url_meta":{"origin":226512,"position":4},"title":"Limited Liability Partnership in the wake of start-up era","author":"Saba","date":"September 7, 2018","format":false,"excerpt":"by Hetal Doshi*","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/09\/Limited-Liability-Partnership.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":256130,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/27\/mca-allows-llps-to-file-form-8-without-additional-fess-till-30-12-2021\/","url_meta":{"origin":226512,"position":5},"title":"MCA allows LLPs to file Form 8 without additional fess till 30.12.2021","author":"Bhumika Indulia","date":"October 27, 2021","format":false,"excerpt":"On October 26, 2021, the Ministry of Corporate Affairs has issued a notification regarding relaxations in paying additional fees in case of delay in filing Form 8. The Ministry has allowed LLPs to file Form 8 (the Statement of Account and Solvency) for the Financial Year 2020-2021 without paying additional\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-161.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/226512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=226512"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/226512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209748"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=226512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=226512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=226512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}