Filing the annual return and ensuring compliance with the Companies (Acceptance of Deposits) Amendment Rules is essential for companies. In this article, we will explore the e-Form DPT-3, its purpose, applicability, and due date for filing. We will also discuss the latest amendment and the penal consequences associated with non-compliance.
Background:
Considering the interest of stakeholders including creditors and depositors, the Central Government (CG) notified the amendment in the Companies (Acceptance of Deposits) Rules 2014 through Companies (Acceptance of Deposits) Amendment Rules 2019.
2. Rule for e- Form DPT-3:
The e-form DPT-3 is required to be filed pursuant to Rule 16 of Companies (Acceptance of Deposits) Amendment Rules, 2019.
3. Applicability of the e-Form DPT-3:
Form DPT-3 is applicable on all the Companies (Small Company, OPC, Public, Listed etc.) except for the followings companies as mentioned below:
(a) Banking Company.
(b) NBFCs registered with RBI.
(c) Housing Finance Company (HFCs) registered with the National Housing Bank.
(d) Government Company (in case of Exempted Deposit).
4.Purpose of e-Form DPT-3:
(a) To get information of Deposits received by the Company.
(b) To get entity wise information of loan received by the Company.
(c) To be in compliance with Section 73 of Companies Act,2013.
(d) To keep control over the Companies from acceptance of Loan, Deposits and Advance.
4. Due date for filing:
The due date for filing the annual return is 30th June of every year.
5. Latest amendment on Form DPT-3:
Every company to which these rules apply, shall file e Form DPT-3 duly audited by the auditor of the company and declaration to that effect shall be submitted by the auditor in DPT-3.
6. Penal Consequences in case of non compliance:
Under Section 73A of the Companies Act, 2013,
(i) Every Company which fails to comply with the provisions of section 73 or section 76 read with relevant rules made thereunder shall be liable for a penalty of minimum 1 crore or twice the amount of deposits whichever is lower, which may extend to Rs. 10 crores.
(ii) 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.
Conclusion: Understanding the requirements and implications of filing e-Form DPT-3 is crucial for companies to ensure compliance with the Companies Act. By adhering to the due date for filing and fulfilling the necessary audit and declaration requirements, companies can avoid the severe penal consequences associated with non-compliance.
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