Extension of LLP Settlement Scheme, 2020

Last updated: 19 November 2020

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The Ministry of Corporate Affairs has extended the LLP Settlement Scheme, 2020, due to the disruptions caused by the COVID-19 pandemic. This extension allows defaulting LLPs to file belated documents that were due up to 30th November 2020. Importantly, if a statement of account and solvency for the financial year 2019-2020 was signed after the six-month period but no later than 30th November 2020, it will not be considered non-compliance.

General Circular No. 37/2020

File No. 17/61/2016-CL-V Pt-I
Government of India
Ministry of Corporate Affairs

5^thFloor, A-wing Shastri Bhavan,
Dr. R P Road, New Delhi-01
Dated: 09.11.2020

To,

The DGCoA,

All Regional Directors,

All Registrars of Companies, All Stakeholders.

Subject: Extension of LLP Settlement Scheme, 2020.

Sir/ Madam,

In continuation to this Ministry’s General Circular No. 13/2020 dated 30.03.2020 and in the General Circular No. 31/2020 dated 28.09.2020 the scheme was extended till 31^st December 2020, in view of large scale disruption caused by the COVID-19 pandemic and after due examination, it has been decided to extend the date on applicability to defaulting LLP and therefore, in serial number 3, para 8A, sub-para (iii) of the said circular dated 30.03.2020, belated documents due for filing till 30^th November 2020 shall be substituted. All other requirements provided in the said circulars shall remain unchanged.

2. If a statement of account and solvency for the financial year 2019-2020 has been signed beyond the period of six months from the end of financial year but not later than 30^th November, 2020, the same shall not be deemed as non-compliance.

3. This issue with the approval of competent authority.

Your Faithfully,

(Chandan Kumar)

Deputy Director (Policy)

Copy forwarded for information to: ‑

E-governance section and web contents officer to place the circular on MCA
Guard file.

FAQ :

The LLP Settlement Scheme, 2020, is a scheme introduced by the Ministry of Corporate Affairs to allow defaulting LLPs to file their overdue documents.

Yes, the Ministry of Corporate Affairs has extended the applicability of the scheme for defaulting LLPs.

Belated documents that were due for filing up to 30th November 2020 can now be filed under the extended scheme.

No, if the statement of account and solvency for the financial year 2019-2020 was signed beyond six months from the end of the financial year but not later than 30th November 2020, it shall not be deemed as non-compliance.

No, all other requirements provided in the previous circulars regarding the LLP Settlement Scheme remain unchanged.

Guest

Notification No : General Circular No. 37/2020
Published in Corporate Law
Source : http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.37_09112020.pdf

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