The Form for this compliance requirement has been deployed on 01 May 2019. This form will be used for both compliances i.e. under Rule 16 and Rule 16A of Companies (Acceptance of Deposits) Rules, 2014. The basic reporting requirements under this Form has been given hereunder:
This is an annual reporting requirements, due date of filing of which is 30 June each year, where the Form primarily requires reporting of
These reporting has to be done on or before 30 June 2019 for the FY 2018-19. Rule 16 specifically requires reporting of information in the said form as on 31 March of the respective year (i.e. for FY 2018-19, reporting of information should be per the balances as on 31 March 2019) which should be duly audited by the auditor of the Company. One may infer that whether all details in the said form is required as on 31 March 2019, i.e. information of balances of Deposits, other than Deposits and also Net worth which should be duly audited by the auditor. Considering this, we have tried to evaluate this provision and Form requirements as under:
However, where the audit pertaining to FY 2018-19 is completed before the return DPT 3 is filed, then the said numbers should be considered for the purpose of Networth.
The due date of the reporting of this Form is 29 June 2019. The primary reporting requirement under this Form includes the following:
The said Rule pertaining to one-time reporting requirement does not require audited numbers to be reported. However, the form released by the MCA requires attachment of Auditors Certificate. Therefore, one can infer that the said certificate may be restricted to numbers pertaining to amount of Money or Loan received by the Company but not considered as Deposits under Rule 2(1)(c) and the Networth may be reported as per the latest audited balance sheet i.e. 2017-18 or in case audit of 2018-19 is completed, then such number, as the case may be.
Therefore, as a conclusion, numbers pertaining to Deposits & Other than Deposits should be audited and certified by the auditors of the Company.
The above note is a personal view based on interpretation of law and should not be construed as an Opinion in any manner. The MCA should release a clarification in this regard.