March 05, 2020
Summary of the circular issued by MCA on 04/03/2020
1. MCA notifies LLP Settlement Scheme, 2020 to give a one-time relaxation in additional fees and prosecution to defaulting LLPs thereby promoting ease of doing business
In line with extension of Section 460 of Companies Act, 2013 for condonation of delay to LLPs vide G.S.R. 59 (E) Dated 30th January 2020, MCA has notified LLP Settlement Scheme, 2020 which shall come into force on 16th March 2020.
The salient features of this scheme are as follows:
- Reduction of additional fees from Rs. 100 per day to Rs. 10 per day subject to a maximum of Rs. 5000 per document.
- Applicable to Form 3, Form 4, Form 8, Form 11 which are due for filing till 31st October 2019.
- This scheme is not applicable for LLPs which have made an application for strike-off.
- The last date to make good the default is 13th June 2020.
Aforesaid circular is integrated in our free-to-use website ca2013.com for your ready reference.
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