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MCA Update- one time filing of form DPT-3 to be filed for all outstanding amounts/loans for period 01.04.2014 till date

Corporate Law Consultant in Mumbai
Author: CS Amita Alke
Posted On: Wednesday 06 February 2019

Tags: DPT mca circulars and notifications corporate affairs ministry form dpt-3 mca notifications on companies act 2013 what is form dpt 3 mca
  • WHAT IS DEPOSIT? 

Section 2 (31) of the Companies Act, 2013 defines deposits as – deposits include any receipt of money by way of deposit or loan or in any other form by a company but does not include such categories of amount as may be prescribed in consultation with Reserve Bank of India.

  • RULE 16 (After insertion of Explanation) 

Revised Applicability and Effect:

Every Company, other than Government Company, to which Companies (Acceptance of Deposits) Rules, 2014 applies, shall have to file Form DPT-3. 

  • FORM DPT-3 SHALL BE USED AFTER INSERTION OF EXPLANATION 

Form DPT – 3 shall be filed for Return of deposits or any transactions which may be considered as Deposits or both.

  • RULE 16(A) (Effect of Insertion of New Sub-Rule (3))

Every company (other than Government Company) to which these rules apply, shall file  one-time 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.”

Hence, the amendment is retrospective in nature from 1st April, 2014 and any loans taken or money received by the Company, which are not considered as deposits shall file Form DPT – 3.

  • NOT APPLICABLE

Government Company. [Section 2(45) of the Companies Act, 2013]

  • PERIOD

Form DPT- 3 has to be filed for any money received or loans taken from 01st April, 2014 to 22nd January, 2019 (i.e. the Date of Publication)

  • DUE DATE

22nd April, 2019 (i.e. Ninety days from 22nd January, 2019)

  • DIFFERENCE BETWEEN RULE 16 BEFORE AMENDMENT AND AFTER AMNENDMENT 

SR. NO.

BEFORE INSERTION OF EXPLANATION

AFTER INSERTION OF EXPLANATION

 

1

 

Applicability

 

Every company other than Banking Company, Non-banking Financial Company and such other company as maybe specified by Central Government after consultation with reserve Bank of India

Every Company other than Government Company.

 

2

 

Due Date

 

On or before 30th June of every year

Within 90 days from the date of publication in Official Gazette             (22nd January, 2019).

 

3

 

Form Filing (Form DPT -3)

 

Companies shall file Annual Return of Deposit or Particulars of Transaction not considered as Deposits or both on information as per Audited Financial Statements as on 31st March of that year

Companies shall file one time return of outstanding receipt of money or loan by the Company but not considered as deposits.

 

4

 

Date of effect of filing

 

N.A.

Retrospective effect from 01st April 2014 to the date of publication of this notification i.e. 22nd January, 2019.

 

  • CONCLUSION 

This move seems to be part of government's increasing efforts towards tracing any bogus transactions/black money. Therefore, the Government has come up with the Amendment to track the outstanding monies or loans taken by all the Companies other than Government Companies to know the exact status of money inflow and outflow.

Below is the link to the notification published in the Official Gazette by Ministry of Corporate Affairs:

www.mca.gov.in/Ministry/pdf/AcceptanceDepositsAmendmentRule_22012019.pdf

Co - Author:

Ruchi Mehta

Please feel free to write to us on amita@apmh.in /ruchi@apmh.in for any further queries on the above blog

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