Ministry of Corporate Affairs (MCA) vide its circular dated 9th November, 2020 has notified that a Defaulting LLP is now allowed to file its belated documents due for filing till 30th Nov,2020 under the provisions of this scheme.
Hence, an LLP which has not filed its documents due as on 30th Nov,2020 can now file these documents till 31st Dec,2020 without payment of any additional fee and it shall also not be subject to prosecution by the Registrar for such defaults.
If a statement of account and solvency for the FY 19-20 has been signed beyond the period of 6 months from the end of financial year but not later than 30th Nov, 2020, the same shall not be deemed as non-compliance.
LLP Settlement Scheme is a One-time relaxation scheme provided by government to promote ease of doing business and to allow defaulting LLPs to make good their default and to serve as a compliant LLP in future.
Source: General Circular No. 37/2020, General Circular No. 31/2020, General Circular No. 13/2020, General Circular No. 06/2020
-Tanya Kapoor, Associate, ShineWing India