Mandatory Filing of
Form DPT-3 (Return of Deposits)” Under Companies (Acceptance of Deposits)
Amendment Rules, 2019
Introduction
Under the Companies
(Acceptance of Deposits) Amendment Rules, 2019, Ministry of Corporate Affairs
("MCA") inserted and introduced the Sub Rule 3 of 16A by the
notification dated 22th January, 2019 with the amendment in Companies
(Acceptance of Deposits) Rules, 2014 read with the MCA Circular No. 05/2019
dated 12th April, 2019 which mandate the filing of form DPT-3 with the
Registrar within ninety days from the date of said publication of this
notification along with fee as provided in the Companies (Registration Offices
and Fees) Rules, 2014.
Applicability of
form DPT-3
Existing Provision:
As per the provision of
Section 73 of the Companies Act, 2013 clearly states that the
Companies can accept deposit from members and/or public on or after the
commencement of the said Act i.e on or after 1st April, 2014, in accordance
with provisions of Chapter V. Reading of Section 73 (2) and 76 (1) clarifies
that Companies (Acceptance of Deposit) Rules, 2014 also needs to be complied
for accepting deposits under Act, 2013.
Return of deposits
to be filed with the Registrar:
Rule 16 of The Companies
(Acceptance of Deposit) Rules, 2014 (Deposit Rules), states that every Company
to which this Rules apply, shall on or before 30th June of every year file with
the Registrar, a return of deposit in Form DPT-3 along with fees and furnish
information as on 31st March of that year duly audited by Auditor of the
Company.
Thus, it is very clear
position that DPT-3 is to be filed for deposits accepted on or after 1st April,
2014 in compliance with Chapter V of Act, 2014 and Deposit Rules.
Amended Provision
(New Rule 16A and Explanation inserted in Rule 16):
Explanation under Rule 16
- It is hereby clarified that Form DPT-3 shall be used for filing return of
deposit or particulars of transaction not considered as deposit or both by
every company other than Government company.
Disclosures in the
financial statement (New Rule 16A):
(a)
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Every company, other than a private company, shall disclose in
its financial statement, by way of notes, about the money received from the
director.
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(b)
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Every private company shall disclose in its financial
statement, by way of notes, about the money received from the directors, or
relatives of directors.
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(c)
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Every company other than Government company shall file a
onetime return of outstanding receipt of money or loan by a company but not
considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from
the 01st April, 2014 to the date of publication of this notification in the
Official Gazette, as specified in Form DPT-3 within ninety
days from the date of said publication of this notification along with fee as
provided in the Companies (Registration Offices and Fees) Rules, 2014.
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Impact of
Amendment:
Filing of Form DPT-3 Become Mandatory
– Every Company other than Government Company shall file the
return of Deposit or particulars of the transaction which are not considered as
a deposit (as specified in rule 2(1)(c) of Companies (Acceptance of Deposits)
Rules, 2014 or Both.
Clarification under MCA Circular No.
05/2019 dated 12th April, 2019:
It may also noted that
data on deposits should be filed up to 31st March, 2019 (as opposed to 22nd
January, 2019) which was originally indicated in the said Rule.
Key Points of the new Notification
and Relavant Dates:
(a)
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Applicable on Class of Companies:
All companies(Private, Public & OPC) other
than Government Companies are required to file form DPT-3.
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(b)
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Nature of Return:
Form DPT-3 is required
to be filed on one time basis within 90 days from date of
publication of this notification in Official Gazette.
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(c)
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Category of Loan and Deposits: Filing is required to be done
for both secured & unsecured outstanding money/loan not
considered as deposits.
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(d)
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Period Coverage:
Period of outstanding loan/money shall be from April
01, 2014 till March 31, 2019.
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(e)
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Loan or Money related to Holding/Subsidiary or Associate Company:
The form shall also be filed in case the loan/money
outstanding is taken from its holding/subsidiary or associate company..
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(f)
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Need of Compliance:
If a company does not accept a loan or does not have any
outstanding loan, there is no need to comply with the provisions of this
rule.
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(g)
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Transactions Covered:
Rule 2(1)(c) of Companies (Acceptance of Deposits) Rules, 2014
enlist transactions which are not treated as deposits. DPT-3 is required to
be filed in respect of these transactions.
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(h)
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Form Fee:
Fees shall be payable as per the Companies (Registration
Offices and Fees) Rules, 2014 as per below table:
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1. Fee applicable in case of company have share capital :
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|||||||||||||
2. Fee applicable in case
of company not having share capital :
Fee applicable
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Rupees 200 per
document
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3. Additional fee
shall be Payable as per below table :
Period of delays
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All forms
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Up to 30 days
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2 times of normal
fees
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More than 30 days
and up to 60 days
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4 times of normal
fees
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More than 60 days
and up to 90 days
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6 times of normal
fees
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More than 90 days
and up to 180 days
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10 times of normal
fees
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More than 180 days
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12 times of normal
fees
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Required Attachments and Documents
along with form:
(1)
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Auditor's certificate
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(2)
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Deposit Insurance contract – Mandatory if company has
deposit insurance and details of same are mentioned in the form
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(3)
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Copy of trust deed – Mandatory if company has trust deed
and details of same are mentioned in the form
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(4)
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Copy of instrument creating charge
– Mandatory if company has trust deed and details of same are mentioned in
the form
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(5)
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List of depositors – List of deposits matured, cheques issued
but not yet cleared to be shown separately – Mandatory if company has balance
of deposits outstanding at the end of the year.
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(6)
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Details of liquid assets
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(7)
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Other optional attachment, if any
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Conclusion
Every Company other than
Government Company need to file form DPT-3 within 90 days from the Date of
Notification, having outstanding balance on account of receipt of Money or Loan
which have not considered as deposit as per Rule 2(1)(c) of Companies
(Acceptance of Deposits) Rules, 2014 as on 31.03.2019 including
deposit or both.
Courtesy : Amit Kathuria ,ACS, LLB
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