ARTICLE · 13 MAY 2020

MCA Introduces LLP Settlement Scheme 2020 (LLPSs-2020)

Singhania & Partners LLP

The Ministry of Corporate Affairs (MCA) vide General Circular 6/2020 dated March 04, 2020 notified the LLP Settlement Scheme, 2020 (LLPSS-2020),

IndiaCoronavirus (COVID-19)

Gunjan Gupta

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The Ministry of Corporate Affairs (MCA) vide General Circular 6/2020 dated March 04, 2020 notified the LLP Settlement Scheme, 2020 (LLPSS-2020), which was subsequently modified via General Circular 13/2020 dated March 30, 2020. The LLPSS-2020 allows one-time condonation of delay to the defaulting Limited Liability Partnerships (LLPs), to complete their pending compliances, without payment of any additional fees, during the moratorium period. The highlights of the LLPSS-2020 are as under:

(a) Applicability – Any defaulting LLP which has made a default in filing of documents on the due date(s) specified under the Limited Liability Partnership Act, 2008 (LLP Act, 2008) and rules made thereunder, is permitted to file belated documents, which are due for filing till August 31, 2020 in accordance with the LLPSS-2020.

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MCA Introduces LLP Settlement Scheme 2020 (LLPSs-2020)

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