Introduction:
The Ministry of Corporate Affairs vide circular dated 4th March 2020, General Circular No. 6/2020, has released a scheme which provides prosecution immunity and reduces the penalty for late filing of various e-forms as required to be filed with the Registrar of Companies (“Scheme”).
Effective Date:
The Scheme shall come into force on 16th March 2020 and shall remain in force up to 13* June 2020.
Applicability:
Any defaulting LLP’ is permitted to file belated documents, which were due for filing till 31st October 2019 in accordance with the provisions of the Scheme.
Process for filing belated document for seeking immunity under the Scheme
1. As per the Scheme, an LLP registered in India as per the provisions of the LLP Act, 2008, can file any overdue LLP return(s) which have not been filed or registered in time by paying an additional fee of Rs. 10 (Rupees Ten) per day for delay in addition to any fee as is payable for filing such document or return subject to maximum additional fee of Rs. 5000 (Rupees Five Thousand) per document on or before 13* June 2020.
Non-applicability of the Scheme
The Scheme shall not be applicable for filing of documents/returns/e-forms except for the following:
The Scheme shall not apply to such LLPs which has made an application in e-form 24 to the Registrar of Companies, for striking off its name from the register as per rule 37(1) of the LLP Rules, 2009
Analysis:
The intent of the Ministry of Corporate Affairs for introducing the Scheme is to allow LLPs to condone their delay in filing statutory forms/ returns with the Registrar of Company by availing the Scheme in the spirit of corporate governance.
To receive regular updates click on
