Ministry of Corporate Affairs vide its notification dated 16 May 2017 has amended the Limited Liability Partnership Rules, 2009 by introduction of Limited Liability Partnership (Amendment) Rules, 2017.
One of the major change introduced by the aforesaid amendment is that applicant company needs to file overdue returns (Form 8 and Form 11) up to the end of financial year in which it ceased to carry its business / operations. Accordingly, applicant LLP needs to make belated filings for all such financial years during which it was operational before moving an application to get its name strike off under LLP Act and Rules.
Another major requirement introduced by the amendment is to obtain a certificate from their bankers evidencing closure of the bank account.
In these amendment rules, it is not clear if the LLP’s which have not commenced their operations since incorporation would be exempted from the requirement of filing their return for the first financial year.
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