Coronavirus: LLP Settlement Scheme, 2020 revised by MCA



Quick Summary
The Ministry of Corporate Affairs (MCA) has revised the LLP Settlement Scheme, 2020, via General Circular No. 23/2020. These changes, effective from 1st April 2020, aim to reduce the compliance burden for Limited Liability Partnerships (LLPs) in India, allowing them to focus on COVID-19 related measures. Key modifications include changing the deadline for certain details from 13th June 2020 to 31st March 2020, and extending the scheme's validity until 30th September 2020.

General Circular No. 23 2020 

F.No. 17/51/2016-CL-11-Pt-I 

GOVERNMENT OF INDIA 
MINISTRY OF CORPORATE AFFAIRS 

5th Floor, A Wing, Shastri Bhavan, 
Dr. R.P. Road, New Delhi, 
Dated: 3003.2020 

To 
All Regional Director, 
All Registrars of Companies, 
All Stakeholders. 

Subject: LLP Settlement Scheme, 2020 -Modification- reg. 

Sir. 

In continuation to Ministry's General Circular No.06/2020 dated 04.03.2020 and in order to support and enable Limited Liability Partnerships (LLPs) registered in India to focus on taking necessary measures to address the COVID-19 threat and to reduce their compliance burden, certain modifications to the said Circular have been decided to be implemented by this Ministry, with effect from 01.04.2020. 

2. Modification in Para no. 8 of the said Circular dated 04.03.2020, with effect from 01.04.2020 (a) Title of the para shall be read as "The details of the original scheme are as under:- (b). In sub-paras (i) and (vi), for the words, letters and figures, "13th June, 2020", the words, letters and figures, "31st March, 2020" shall be substituted. 

3. Insertion of para 8A after F S of the said Circular dated 04.03.2020 with effect from 01.04..2020 The following para shall be inserted after pare 8, namely:-"8A. The details of the scheme as modified, are as under: 

(i) The scheme shall come into force with effect from 1st April, 2020 mid shall remain in force upto 30th September, 2020. 

To read more in details, find the enclosed file

FAQ :

The revised LLP Settlement Scheme aims to support LLPs by reducing their compliance burden, enabling them to focus on addressing the COVID-19 threat.

The modifications to the LLP Settlement Scheme came into effect from 1st April 2020.

The deadline for certain details was changed from 13th June 2020 to 31st March 2020, and the scheme's duration was extended.

The modified LLP Settlement Scheme will remain in force until 30th September 2020.

The modifications are detailed in General Circular No. 23/2020 from the Ministry of Corporate Affairs.




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