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CA Sandeep Kanoi

As per Section 74(1) of Companies Act, 2013 every Company is required to file Return of Deposits in Form DPT -4 along with Auditor’s Certificate thereon within three months from the commencement of Companies Act, 2013 i.e. on or before 30th June 2014.

Form DPT -4 Shall be filed with E-Form  GNL-2 which shall also contain List of Depositors and Auditors Certificate.

The Form DPT-4, List of Depositors and Auditors Certificate shall be scanned and attached to e-Form GNL-2 (Circular No. 09/2014 dated 25.04.2014which shall be filed on MCA-21 site. The Due date for filing the same is 30th June -2014.

We are Attached herewith the format of following :

i) Download Excel Format of  Form DPT-4 and format of List of Depositors 

iii) Download Word Format of Auditors Certificate. 

Further, company is required to ensure repayment of such deposit on or before 31.03.2015 or date of repayment, whichever is earlier.

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  1. M.N.Reddy says:

    Industries in SSI sector have urgent needs or some even under tight financial position doing genuine business. They need to pay the CENTRAL EXCISE, COMMERCIAL TAXES ELECTRICITY BILLS AND THE WAGES all with in 1st week of every month. If the working capital arrangement is not adequate and they need to comply with all th above in addition to EPF,ESI ETC., and they are not allowed to borrow money from the share holders who have confidence in the promoters and are willing to take less interest than the Bank, what is wrong with that ? Sensless beaurocrates frame the rules which is going to kill the initiative of the SSI sector which contributes to major portion of GDP and employment.
    Some time the SSI industries get a specific order to be completed with in 2 to 3 months, there is no Bank which is going to jump in and increase the working capital with in 3 months.

  2. San says:

    Few points to share:

    1. The earlier Govt was in haste to show that they have done something and under such impulse this CA 2013 came to being.

    2. There are precedents where the Govt has tried to control each and every transaction and it landed up with the huge database which the administration was itself confused. They ended up with huge pile of database which was redundant and as a result ‘hati nikalgaya aur chuhe ki puch pakadi gayi’. Despite of stringent control on NDFC, there are repeated cases of companies failing to refund genuine deposits of small investors.

    3. After POTA which is a counter terrorism Act I feel Companies Act 2013 is here to counter professionals …. CA, CS etc

  3. atam says:

    Dear All,

    Surprisingly the New Govt is also not doing anything to defer this act.

    Only those private ltd companies against which the depositors have filled compaints with MCA/ROC/SEBI /Consumer Courts should be asked to file these sort of declaration.

    Can Govt suggest alternative sources of funds for private ltd companies as many may be only trading companies having no assets to offer as security.

  4. JAYENDRA says:

    The role of Governance is to govern not to interfere in business. If at all Government wants to protect the public interest, they should concentrate on defaulters and take necessary action on them. This will deter others from defaulting.
    In a path breaking analysis, Professor R Vaidyanathan, in his book “India Uninc” very astutely established that the small business units contribute nearly 55% to GDP, whereas the large industrial corporations and corporate contribute only 15% to GDP. Rest 20% comes from agriculture and balance 20% from so called Public Sector Units. He strongly recommends that some of the laws should scrapped altogether which are redundant and comes in the way of small business. He also advocates state Government to amend laws to facilitate small industry & business units. GOVERNMENT SHOULD ALTOGETHER REMOVE THIS PROVISIONS OF LOANS AND DEPOSIT FOR SMALL BUSINESS UNITS ELSE IT WILL LEAD TO DISASTER.
    In another revelation, he establishes that small businesses are finding it difficulty to raise working capital and relies on family and friends and to his astonishment he has found that small business industry and business units are more trust-worthy than large corporation.

  5. Rajesh,Mumbai says:

    See the basic understanding and knowledge of ground reality of Lawmakers. They have made a Law that even a private company cannot take loans from relative of directors and shareholders. See the bankruptcy of their intelligence; they want all these company to repay loans before 31st march 2015. They indirectly wish all private companies to wind up / close the business. Can they make even a Largest Bank of India to pay all deposits in one year without taking further deposits? Leave aside the Bank, Can Government of India repay all loans (taken from various sources) in one year. See the penalty of Rs 1 crore to 10 crore if loans not paid before 31st Mar.2015 and also imprisonment up to seven years. They do not even know that In India 90% of private companies will not be having a capital of 1 crore and they are daring to impose a penalty of minimum 1 crore. They (Lawmakers) did not even consider that relatives and shareholders give loans to private company because they trust them more than Banks, more than government, get better interest, and are more comfortable with them. On the other side, private companies get such loans on reputation whenever required which help them to save on costs and grow business.
    I want to ask a question to Law makers: My brother is director of a private company. I have given loans to his company at 15% per annum and getting interest on time. I feel safer than Bank and do not want to invest in stock market. Now what should I do with my money if I am repaid my loans given to company?

    This Devil law has been enacted by earlier government. I hope new government will drop it and restore earlier situation.

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April 2024