One Page Note on LLP Settlement Scheme

Applicability

Any LLP which has made a default in filing of specified forms on the due date is permitted to file belated documents, under this Scheme.

Specified Forms

(i.) Form-3- Information with regard to limited liability partnership agreement and changes, if any, made therein;
(ii.) 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;
(iii.) Form-8 - Statement of Account & Solvency (Annual or Interim); (iv.) Form-11- Annual Return of Limited Liability Partnership (LLP).

Additional Fee/Penalty

The Additional Fee/Penalty will be Rs. 10- per day for delay in addition to any fee as is payable for filing of such document or return, provided that such payment of additional fee shall not exceed Rs. 5000/- per document. :- So maximum additional fee will be Rs. 5000.00/- per document earlier it was Rs. 100 per day for the infinite time.

Time duration for avail the scheme

From 16th March, 2020 to 13th June, 2020.

Immunity from prosecution in respect of document(s) filed under the scheme

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.

Scheme shall not apply

This Scheme shall not apply to LLPs which has 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.

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