August 24, 2023
The Ministry of Corporate Affairs (MCA) vide its circular no. 08/2023 dated August 23, 2023, introduced a condonation scheme for delays in filing Form-3, Form-4, and Form-11 under Section 67 of the LLP Act, 2008 read with Section 460 of the Companies Act, 2013. The Government has received representations that certain Limited Liability Partnerships (LLPs) were finding difficulties in filing Form 3 (LLP Agreement and alterations), Form 4 (Information regarding appointment, resignation, change in details of a partner), and Form-11 (Annual Return). In response to the challenges reported by certain LLPs in the completion of Form-3, Form-4, and Form-11 submissions due to various factors, including discrepancies within the electronic registry of the Ministry, a significant initiative has been undertaken by the Government. This proactive step aligns with the Government's steadfast commitment to fostering an environment conducive to seamless business operations. Under the authority vested by section 67 of the Limited Liability Partnership Act, 2008, the Ministry has undertaken a strategic approach to alleviate the concerns faced by these LLPs. The Ministry's decision to grant a one-time relaxation in additional fees to those LLPs unable to meet the prescribed deadlines for filing Form-3, Form-4, and Form-11 is both pragmatic and forward-looking. This exemption provides a valuable opportunity for these entities to rectify their filings and update their essential information in the master data, thereby facilitating smoother compliance with future obligations. The key aspects of this initiative underscore the Ministry's dedication to ensuring effective solutions:
The stipulated filing window, open from September 1, 2023, to November 30, 2023, is designed to provide ample time for LLPs to avail themselves of this beneficial scheme. Crucially, the decision ensures that LLPs participating in this program will be safeguarded against any repercussions stemming from delayed submission of Form-3, Form-4, and Form-11. This comprehensive initiative exemplifies the Government's commitment to adaptively supporting businesses, fostering a culture of compliance, and ultimately nurturing an environment of sustained growth and ease of doing business.
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