ANALYSIS OF COMPANIES (ACCEPTANCE OF DEPOSITS) AMENDMENT RULES, 2019 NOTIFICATION DATED 22.01.2019-
Accordingly, in order to protect and safeguard the interest of deposit holders or creditors of the company, the Central Government in consultation with the Reserve Bank of India (RBI), hereby, makes the Companies (Acceptance of Deposits) Amendment Rules, 2019 to amend the Companies (Acceptance of Deposits) Rules, 2014.
Key points of the new notification and its applicability-
1. All companies (Private, Public, OPC, etc.) except Government Companies are required to file form DPT-3.
2. One Time return in form DPT-3 is required to be filed within 90 days from date of publication of this notification in Official Gazette i.e. 90 days from 22nd January, 2019.
3. Filling is required to be done for both secured & unsecured outstanding money/loan not considered as deposits.
4. Period of outstanding loan/money shall be from April 01, 2014 till January 22, 2019.
6. The form shall also be filed in case the loan/money outstanding is taken from its holding/subsidiary or associate company.
7. 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.
8. Fees shall be payable as per the Companies (Registration Offices and Fees) Rules, 2014.
9. Rule 2(1)(c) of Companies (Acceptance of Deposits) Rules, 2014 enlist transactions which are not treated as deposits. DPT-3 need to file in respect of these transactions. http://www.mca.gov.in/Ministry/pdf/AcceptanceDepositsAmendmentRule_22012019.pdf
IMPACT OF NEW NOTIFICATION:
By every company other than Government company required to be filed on One Time Basis.
The e-Form will be processed by the office of Registrar of Companies (Non STP).
CONCLUSION: Every Company other than Government Company need to file form DPT-3 within 90 days from 22.01.2019 i.e. 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 22.01.2019 including deposit or both.
DISCLAIMER- The above information is my personal interpretation of notifications issued by MCA for general guidance and academic point of view and is true to the best of my knowledge and experience.