Monday, 11 May 2020

LATEST UPDATES ON LLP- The latest Updates on LLP in year 2020



The latest Updates on LLP in the year 2020 are as follows:

v  In exercise of the powers conferred by sub-section (1) of section 67 of the Limited Liability Partnership Act, 2008 (6 of 2009), the Central Government hereby directs that the provisions of section 460 of the Companies Act, 2013 (18 of 2013) shall apply to a limited liability partnership from 30th January, 2020.

v  Government brings schemes for 'fresh start' for companies, LLPs amid Covid- 19 outbreak. The entities would get immunity from penal proceedings with respect to delay in the submission of requisite filings. The government has extended the deadline for submitting filings without late fee till September 30, 2020.

    "Both the schemes also contain provision for giving immunity from penal proceedings,                          including against imposition of penalties for late submissions and also provide additional time   
     for filing appeals before the concerned Regional Directors against the imposition of penalties, if  
     already imposed," the release said

     However, the immunity would be only against delayed filings in MCA 21 portal and not
     against any substantive violation of the law.

     Requisite filings to the ministry are made through the MCA 21 portal.

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