| Legal Provision | Considering all such issues and with an objective of promoting ease of doing business, Ministry of Corporate affairs (“MCA”), in exercise of power given under section 460 of the Companies Act, 2013, vide Gazette Notification No. G.S.R. 59(E) dated 30th January, 2020 u/s 67(2) of LLP Act, 2008 introduced “LLP Settlement Scheme 2020”. Wherein, one-time condonation has been allowed to defaulting LLPs and now they are allowed to file pending forms with reduced additional fee of Rs. 10/- per day instead of Rs. 100/- per day. | MCA CIRCULAR NO. 13/2020 DATED 30.03.2020 In continuation of Ministry’s General Circular No. 06/2020 dated 04.03.2020 and in order to support the 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 said the circular have been decided to be implemented by this Ministry, with effect from 01.04.2020 |
| Definition of LLP | Section 2(n): – Limited Liability Partnership means a partnership formed and registered under the ‘Limited Liability Partnership Act, 2008’ (the LLP Act). | No Change took placed in the definition. |
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