Sub: MCA has introduced LLP Settlement Scheme, 2020 to give a Onetime relaxation in additional fees to the defaulting LLPs.

The Ministry of Corporate Affairs has provided a one time opportunity to the LLPs to make good their default by filing pending documents and to serve as a compliant LLP in future by introducing LLP Settlement Scheme, 2020 vide General Circular No 02/2020 dated 4th March, 2020 which will be applicable from 16th March, 2020 to 13th June, 2020.

ICAI is happy that this 90 days period would be of immense help for the members and the LLPs in filing their belated documents.

Also, 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.

In this regard, the Ministry of Corporate Affairs, Government of India, has issued a Circular on their website and the link for the same is as below: http://www.mca.gov.in/Ministry/pdf/GeneralCircular06_04032020.pdf

ICAI has also prepared and issued FAQs on the LLP Settlement Scheme, 2020 for the benefit of its members and other stakeholder that are uploaded on ICAI website.

Members concerned are earnestly requested to kindly plan their filing accordingly.

With Kind Regards,