MCA UPDATE - EXTENSION OF TIMELINE FOR FILING STATEMENT OF ACCOUNT AND SOLVENCY UNDER LLP ACT, 2008

The Ministry of Corporate Affairs ("MCA"), owing to the 'challenges faced by limited liability partnerships due to COVID-19 pandemic' and in response to the representation received from stakeholders, has vide its General Circular No. 16/2021 dated October 26, 2021 extended the timeline for filing statement of account and solvency in Form 8 under Section 34 (3) of the Limited Liability Partnership Act, 2008 till December 30, 2021. Further, the MCA has exempted such limited liability partnerships from paying any additional payments for delay in filing the statement of account and solvency till December 30, 2021.

The above decision is in furtherance of the Government's continued efforts to facilitate India Inc.'s ease of running businesses, in the wake of the ongoing COVID-19 pandemic.

Dated: November 16, 2021
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