Tapuriah Jain & Associates

 FAQ'S FILING OF MCA FORM DPT3 

With Companies (Acceptance of Deposits), Amendment Rules, 2019, MCA introduced Form DPT-3 which mandates Filing of Details of Loan with ROC.

Companies (Acceptance of Deposits) Amendment Rules, 2019: As per rule 16, the following Explanation shall be inserted, namely:- “Explanation. 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.”.

As per rule 16(3) of the Companies (Acceptance of Deposits) Amendment Rules,2019:

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.”.

Whether all the companies are required to file form DPT-3 as per new rule 16A?
Yes, Form DPT-3 filing must be made by all companies other than a Government company. Hence, all private limited company, OPC, limited company or Section 8 Company would be required to file Form DPT-3.

As per rule 16A, DPT-3 required to file for each and every loan and money received by the Company which is due.

• All the companies, including small, non-small, private, OPC etc need to file DPT-3 after the publication on these rules.
• DPT-3 required for filing for both secured, unsecured Loan and advance for goods and services.
• Loans obtained from Holding Company or Subsidiary Company or Associate Company would also be considered and DPT-3 needs to be filed for the same.
• If some outstanding receipt of money or loan had become due before 01st April 2014 and is still continuing and standing in the company, then such an outstanding loan needs to be reported to the ROC in the e-form DPT-3.

What is due date for filing of e-form DPT-3 as per Rule 16A?

The Form has to be filed within 90 days from the date of publication of said notification. Now as per the Notification Dated : 30-04-2019, companies are required to file form DPT-3 within the period of 90 days from 30-04-2019 i.e.( till 30-07-2019).

Extended date as per Notification no : G.S.R. 341(E) dated -30-04-2019

As per the Companies (Acceptance of Deposits) Rules, 2014, in rule 16A, in sub-rule (3)

(a) for the words “the date of publication of this notification in the Official Gazette”, the figures, letters and word “31st March, 2019” shall be substituted; 

(b) for the words “ninety days from the date of said publication of this notification”, the words, figures and letters “ninety days from 31st March, 2019” shall be substituted.

What period is to be covered for filing this return?

The period which is covered for filing this return is from 1st April, 2014 to 31st March 2019 [General Circular No. 05/2019].

 

Meaning of Deposit

“Deposit” includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include.
 

(i) any amount received from the Central Government or a State Government, or any amount received from any other source whose repayment is guaranteed by the Central Government or a State Government, or any amount received from a local authority, or any amount received from a statutory authority constituted under an Act of Parliament or a State Legislature ;

(ii) any amount received from foreign Governments, foreign or international banks, multilateral financial institutions (including, but not limited to, International Finance Corporation, Asian Development Bank, Commonwealth Development Corporation and International Bank for Industrial and Financial Reconstruction), foreign Governments owned development financial institutions, foreign export credit agencies, foreign collaborators, foreign bodies corporate and foreign citizens, foreign authorities or persons resident outside India subject to the provisions of Foreign Exchange Management Act, 1999 (42 of 1999) and rules and regulations made there under;

(iii) any amount received as a loan or facility from any banking company or from the State Bank of India or any of its subsidiary banks or from a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949), or a corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or in clause (b) of section (2) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) , or from a co-operative bank as defined in clause (b-ii) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934) ;

(iv) any amount received as a loan or financial assistance from Public Financial Institutions notified by the Central Government in this behalf in consultation with the Reserve Bank of India or any regional financial institutions or Insurance Companies or Scheduled Banks as defined in the Reserve Bank of India Act, 1934 (2 of 1934);

(v) any amount received against issue of commercial paper or any other instruments issued in accordance with the guidelines or notification issued by the Reserve Bank of India;

(vi) any amount received by a company from any other company;

(vii) any amount received and held pursuant to an offer made in accordance with the provisions of the Act towards subscription to any securities, including share application money or advance towards allotment of securities pending allotment, so long as such amount is appropriated only against the amount due on allotment of the securities applied for.

What does ‘Particulars not considered as deposit’ means?

Loan exempted under deposit rules and section 73 shall be considered as particular of non-considered as a deposit. For example Loan from companies, Directors, Banks, Financial Institutions, Members etc. Thus every loan taken by the company is covered in Rule 16.

Explanation inserted under Rule 16 vide Companies (Acceptance of Deposits) Amendment Rules, 2019.

“It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of the transaction not considered as a deposit or both by every company other than Government company.” Every Company other than a Government Company shall file a Return of Deposit or Particulars of Transaction not considered as Deposit or both to furnish the information contained in its Audited financials as on 31st March, of the previous financial year.

If a company does not accept any loan or does not having any outstanding loan, then also company need to comply with the provisions of this rule?

If company does not accept loan or does not having any outstanding loan, there is not need to comply with the provisions of this rule.

• Filing e-form DPT-3 is not required in a situation where the company doesn’t have any outstanding loan as on 31/03/2019.
• A loan that was taken after 1st April 2014 but has been cleared by the company before 31/03/2019 and is not outstanding under the records of the company need not be informed to the ROC.

What are the attachments required with Form DPT-3 ?

1.) Auditor’s certificate [CA Certificate]

2.) Deposit Insurance contract - Mandatory if company has deposit insurance and details of same are mentioned in the form.

3.) Copy of trust deed - Mandatory if company has trust deed and details of same are mentioned in the form.

4.) Copy of instrument creating charge - Mandatory if company has trust deed and details of same are mentioned in the form.

5.) 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.

6.) Details of liquid assets.

7.) Optional attachment, if any.

What is the applicable fees for Form DPT-3?

 

 

Fee applicable in case of company have share capital

Nominal Share Capital	Fee Applicable
Less than 1,00,000	Rupees 200 Per Document
1,00,000 to 4,99,999	Rupees 300 Per Document
5,00,000 to 24,99,999	Rupees 400 Per Document
25,00,000 to 99,99,999	Rupees 500 Per Document
1,00,00,000 or more	Rupees 600 Per Document
Fee Applicable in case of Company not having Share Capital Fee Applicable Rupees 200 Per Document
Period of Delays	All Forms
Up to 30 Days	2 Times of Normal Fees
More than 30 Days and up to 60 Days	4 Times of Normal Fees
More than 60 Days and up to 90 Days	6 Times of Normal Fees
More than 90 Days and up to 180 Days	10 Times of Normal Fees
More than 180 Days	12 Times of Normal Fees