Know all about Form DPT-3

Last Updated On: Nov. 2, 2020, 10:25 p.m.
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KNOW ALL ABOUT DPT-3

On 22nd January 2019, MCA vides its notification notified that every company other than a government Company must file a one-time return in DPT-3. DPT-3 has to be filed annually.

A sub-rule(3) was inserted after the sub-rule (2) in Rule 16A of the Companies Rule i.e Acceptance of Deposits Rule, 2014.

The rule states that;

“Every Company other than a Government Company shall file an annual return of outstanding receipt of money or loan by a company but not considerate as deposits, in terms of clause ( c ) of sub rule 1 of sub rule 2 from the date of 1st April 2014 to 31st March 2019 which is specified in the form DPT-3  within 90days form 31st March along with the fees provided in the Companies Rules,2014.

DPT-3 consists of two varieties, they are:

One time Return

Annual Return

OBJECTIVE:

The Objective of the form DPT-3 is to file the information of loans and advances the company has borrowed with the Registrar of Companies at the end of the financial year.

Exemption for the form DPT-3:

As per Rule1(3) of the Companies Rules 2014, the following companies are exempt :

  • Non-Banking Financial Company.
  • A housing finance company which is registered with National Housing Bank
  • Banking Company.
  • Any other company as notified under proviso to sub-section(1) to section 73 of the Act.

Information to be furnished in the Form DPT-3:

The following particulars to be furnished:

  • CIN of the company
  • E-mail of the Company
  • Objects of the company.
  • Net worth of the company
  • The total outstanding amount as on 31st march 2020.
  • Particulars of Credit rating.

Along with the information following documents to be submitted:

  • Auditors certificate 
  • Copy of Trust deed
  • Deposit Insurance contract, wherever applicable and mentioned in the form
  • Copy of instrument creating the charge
  • List of depositors – List of deposits matured and cheque issued but not yet cleared to be shown separately 
  • Details of liquid assets 
  • Optional attachment 

The transaction that is not considered as deposits:

Following Transaction are not considered as deposits

  • Any amount received as loan or facility from any Public Financial Institutions, Insurance Companies or Banks.
  • Any amount received from a company by a company.
  • Subscription to call and securities in advance.
  • Unsecured loans from promoters.
  • Any amount received by the company from Nidhi Company or by way of subscription in respect of chit under the Chit Funds Act, 1982.

 

Tenure of Return:

Annual return: Annual return will include all amounts outstanding as of date. The annual return is for the period 1st April 2019 to 31st March 2020.

One-time Return: One-Time Return has to be filed for a period starting from 1st April 2014 to 31st March 2019. All receipts in this period and outstanding as on 31st March 2019 has to be reported.

 

CONSEQUENCES OF NON- FILING:

If the company does not adhere to the requirements of DPT-3 and keeps accepting deposits then it will face the following consequences 

Under Section 73:

A penalty of a minimum of 1 crore or twice the amount of deposits whichever is lower,  which may extend to Rs. 10 crore

For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.  25 lakhs which may extend to Rs. 2 crores.  

Under Rule 21:

On the company and every officer in default a fine which may extend up to Rs.  5,000, and where the contravention is a continuing one, a fine of Rs. 500 for every day since the default.  

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