The Ministry of Corporate Affairs vide its notification dated 22.01.2019 bought a very important change w.r.t. mandatory furnishing of information regarding outstanding receipt of loan by every Company other than Government Company. This move by the Government has been taken up in consultation with the Reserve Bank of India so that there can be more transparency in the economy.

Accordingly, sub-rule (3) shall be inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014 which reads as following:

Every company other than Government company shall file a onetime 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

In this write up, we shall discuss the various FAQs in this respect:

1. WHO SHALL FILE FORM DPT-3?

Every Company other than Government Company has to file Form DPT-3.

2. IS THERE ANY EXEMPTION TO THIS FORM TO ANY COMPANY/PERSON?

No, there is no exemption as such. Only government Companies are not required to file Form DPT-3.

3. WHAT IS THE TIME LIMIT?

The Form has to be filed within 90 days from the date of publication of said notification. The said notification was published on 22nd January 2019 and accordingly, we have to file the Form DPT-3 latest by 22nd April, 2019.

4. IS FORM AVAILABLE FOR FILING?

Yes, the Form is available online for filing and can be downloaded from http://www.mca.gov.in/MinistryV2/companyformsdownload.html.

5. IS THERE ANY FEES FOR FILING THE FORM?

Yes, fees shall be payable as per the Companies (Registration Offices and Fees) Rules, 2014 and it shall vary between rupees two hundred to rupees six hundred depending upon paid up capital of the Company.

6. WHAT INFORMATION IS REQUIRED TO BE FURNISHED?

Every Company shall furnish onetime information about the outstanding receipt of money or loan by a Company but not considered as deposits. However, in case the Company has deposits then also the Company has to file Form DPT-3 providing requisite information about deposits by the end of June, 2019.

7. WHETHER INFORMATION ABOUT SECURED/UNSECURED LOAN/ECB/LOANS BETWEEN HOLDING AND SUBSIDIARY IS REQUIRED TO BE FURNISHED?

Yes, as there is no specific exemption in the said notification and accordingly, it can be concluded that information about each and every outstanding loan as on 22.01.2019 is required to be furnished.

8. DO WE HAVE TO FINALISE ACCOUNTS ON 22.01.2019?

Yes, accounts as on 22.01.2019 shall require to be finalized by every Company in order to correctly furnish the requisite information to ROC.

9. DO NBFCs ARE REQUIRED TO FURNISH SUCH INFORMATION?

Yes, there is no specific exemption to NBFC from furnishing information and accordingly, details about every outstanding money or loan in the accounts as on 22.01.2019 of NBFCs are also required to furnish.

10. DO WE HAVE TO FILE THIS RETURN EVERY YEAR?

If we see the format of DPT-3 as given in the said notification, then we can opine that for now, onetime particulars of outstanding money or loan not considered as deposits is required to be furnished in Form DPT-3. Maybe however, the Companies in future ought to require furnishing information about loans/money not considered deposits along with the loans/money considered as deposits as well.

11. IF LOAN/MONEY HAS BEEN RECEIVED BEFORE 01.04.2014 AND STILL OUTSTANDING IN THE BALANCE SHEET, THEN ALSO INFORMATION IS REQUIRED TO BE FURNISHED?

Yes, information about any loan/money outstanding in the balance sheet of every Company except Government Company as on 22.01.2019 is required to be furnished in Form DPT-3.

12. IF LOAN/MONEY HAS BEEN RECEIVED ANYTIME AFTER 01.04.2014 AND REPAID BEFORE 22.01.2019, THEN ALSO INFORMATION IS REQUIRED TO BE FURNISHED?

No, information only about the outstanding loan/money is required to be furnished.

{The author is a Company Secretary in Practice and can be reached at (M) 9999952595 and (E) cskajalgoyal@gmail.com}

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Company: Kajal Goyal and Associates
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KAJAL GOYAL AND ASSOCIATES, is a Company Secretary proprietorship firm, offering its expertise and one stop solutions for all Corporate compliance requirements to the clients with a strong emphasis on ethics and ‘being on toes’. Capable delivering services related to Companies Act, FEMA, Re View Full Profile

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8 Comments

    1. Payal says:

      No return is required to be filed if company dunt have any deposits/ outstanding loans . Therefore No DPT- 3 is required to be Filed.

  1. Hemant Sharma says:

    w.r.t point 11

    Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits from 1/4/14 to 22/1/19, as specified in Form DPT-3 within 09 days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014]

    As stated above outstanding receipt of money from 1/4/2014 to 22/1/2019 to be shown then why outstanding money prior to 1/4/2014 to be shown as mentioned in your FAQs 11

  2. Hemant Sharma says:

    w.r.t. FAQ 4

    The forms as notified in the notification dated is still not available on MCA downloads section. Only earlier version dated 16.08.2018 is available which doesn’t contain the One time return features…..

  3. Monu Agarwal says:

    As per question 9 in the above article it is mentioned that the NBFC is required to file amended Form DPT-3. However, Section-73 exempts NBFC for such compliances. Further the accompanying rule for the above section also provide the same exemption under rule-1. Thus as per the current amendment in the rule-16A does not applies to NBFC. Please clarify whether NBFC needs to follow the compliance or not.

  4. rohit kathotia says:

    Hello
    How do we get an Auditor certificate for DPT-3 for deposits till 22.01.2019 till we get the audit done which happens after March 2019. So why would the auditor certify the same.

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