We have attended webinar conducted by ICSI along with MCA officials on form DPT 3 and they have addressed the questions of the participants and below is the summary for your reference.

Sr. No. Questions Clarification provided on Webinar.
1 Whether NIL return is mandatory to file before the MCA? NIL return is not mandatory to file before the Registrar of Companies (“RoC”)  in the following cases:

1. One time return and

2. Annual return

2 In which cases, auditor’s certificate is mandatory to be attached? Auditor’s certificate is mandatory only in the following cases :

1. Return of Deposit

2. Return of deposit and particulars of transactions by a company not considered as a deposit

Therefore, the auditor’s certificate is not mandatory in the following cases:

1. One time return for disclosures of money or loan received by the company but not considered as deposits in terms of Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 and

2. Particulars of the transaction by a company not considered as deposit Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 and

3 Is the interest along with the principal amount of the loan to be reported? If the interest amount is outstanding as on  March 31 2019, then yes it also has to report as a consolidated figure with the principal amount under the respective head.
4 Whether share application money received by the company is to be reported? The Share application money, if only pending against any allotment as on March 31, 2019, is to be reported.
5 What are the period for which loan outstanding is to be covered in the one-time return and the annual return? Period for a one-time return

Any amount or loan received after April 01, 2014 and outstanding as on March 31, 2019.

Period for an annual return

Any amount of loan outstanding as on March 31, 2019 (even though the amount was received prior to April 01, 2014)

6 Whether the amount raised by the issue of debentures will be considered as a deposit? Any amount raised by the issue of bonds or debentures compulsorily convertible into shares of the company within ten years shall be considered as an exempted deposit under Rule 2(1)(c) of the Companies (Acceptance of Deposit) Rules, 2014.

 Further, any amount received by bonds or debentures compulsorily convertible into shares of the company within nineteen years shall be considered as deposit and the return of deposit shall be file for the same.

7. Which financial statement shall be considered while mentioning Net worth in the form? As per DPT-3 “Net Worth as per the latest audited balance sheet”

Therefore, if the Balance sheet of  March 31, 2019, is Audited then figure of March 31, 2019.

However, if Financial of March 31, 2019, not audited then figures as per financial statement as on March 31, 2018, need to mention in form.

8. If a private company having a loan from both directors and shareholders then which remote button require selecting in DPT- 3? Remote Button 4 required to select “Return of Deposit and Particulars of transactions by a company not considered as a deposit”.

In this  “Auditor Certificate” is mandatory to attach.

9. If Company has taken any advance money for the business then it needs to be covered in the form DPT 3? If the Company has accepted advance and it is within 365 days then it has to be reported in Rule (2) (i) (c) of the Companies (Acceptance of Deposits) Rules, 2014.

If it exceeds 365 days then it has to be shown as a deposit under Section 73(2) of the Companies Act,2013

10. If objects in column 6 are not as per MOA. What is the solution for the same? Raise a ticket on MCA (Though on webinar they have advised not to raise any tick or call to MCA).

In case of ticket not get resolved within the due time then we can do the following: –

Attach a copy of MOA along with clarification letter in the form.

(This is prepared jointly with Ashvini Jain, Company Secretary)

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Qualification: CS
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Location: Mumbai, Maharashtra, IN
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One Comment

  1. AJAY KUMAR says:

    Dear Sir,
    I require more clarification on Q.No. 8:
    If a loan is accepted by private ltd. co.,from an individual, who is shareholder and also director, then whether it will be a “Deposit” Or “Exempted deposit”?

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