Under the Companies Act, 2013, Form DPT-3 is a vital filing requirement for companies to report outstanding loans and borrowings. In this article, we delve into the nuances of Form DPT-3, covering its applicability, filing frequency, reporting details, consequences of non-compliance, and exempted transactions. Additionally, we explore the recent changes introduced in the web-based version, enhancing transparency and information reporting.
1. Applicability: All companies, including public and private companies, that fall under the Companies Act of 2013 are required to submit Form DPT-3.
2. Filing Frequency: Form DPT-3 is an annual filing, meaning it needs to be submitted once every financial year. The filing deadline is within 90 days from the end of the financial year, specifically on or before June 30th each year.
3. Reporting Details: The form requires companies to provide comprehensive information about their outstanding loans, deposits, and other specified transactions as of the date of the balance sheet. This includes details such as the nature of the transaction, amount, parties involved, interest rates, maturity dates, and more.
4. Companies Required to File DPT-3 Form:
5. Filing Fees: The Companies (Registration Offices and Fees) Rules, 2014 stipulate that filing fees must be paid according to the prescribed rates.
6. Consequences of Non-Filing: Failure to comply with the requirements of Form DPT-3 and accepting deposits can lead to the following consequences:
7. Transactions Not Considered Deposits: There are several transactions that are not considered as deposits under the Companies Act. These include:
On August 29th, 2022, the Ministry of Corporate Affairs (MCA) introduced the web-based Form DPT-3 under Section 73 of the Companies Act, 2013. This amendment to the Companies (Registration Offices and Fees) Rules, 2014 has led to digital reforms and expanded the scope of information reporting by stakeholders.
The Revised Format of the Web version has undergone the following changes:
In case of reporting of details of exempted deposits outstanding at the year-end was the only information to be disclosed earlier, however now onwards details w.r.t opening balance along with additions, repayments, adjustments made during the year and closing balance with timeline disclosing the tenure since when the loan has been outstanding.
The above-mentioned detailed requirement is probably made for greater transparency. Revised format is as follows:
Details of Loan (in INR)
Ageing of Loan (in Years)
Additional Loan during the year
Repaid during the year
Any other Adjustment
Loans outstanding for less than or equal to 1 year
Loans outstanding for more than 1 year and less than 3 years
Loans Outstanding for more than 3 years
Conclusion: Form DPT-3 plays a crucial role in ensuring companies report their outstanding loans and borrowings as per the requirements of the Companies Act, 2013. With its applicability to all companies, filing frequency, reporting details, consequences of non-compliance, and exempted transactions, it serves as an essential compliance tool. The recent introduction of the web-based form brings about increased transparency and information reporting, strengthening the regulatory landscape. Companies must stay vigilant in fulfilling their obligations under Form DPT-3 to avoid penalties and uphold good corporate governance.