Highlights of DPT 3 held on 17-06-2019

The key Highlights of Return DPT 3 are:
1. In one time Return of DPT3,  any loan/money received  which is not deposit and accepted after 01.04.2014 and remain outstanding as on 31.03.2019 is to be disclosed/reported . (That means any loan /ICD etc accepted before 01.04.2014 and outstanding as on 31.03.2019 is NOT to be disclosed in one time return.)
2. In annual DPT3 return  – any loan which is not deposit and out standing as on 31.03.2019 (whether it was accepted before or after 01.04.2014) but o/s as on 31.03.2019 is to be disclosed/reported .
3. Outstanding amount includes interest .
4. Any deposit (Not exempted) accepted prior to 1 4 2014 to be filed on DPT 4 or else should have been refunded .If not done consequences will come.
5. Any amount accepted by private co from members will be treated as “deposit” even if it is within limit.
6. Please. mention 31 03 2019 as account closing and take 31 03 2018 BS for net worth calculation
7. Statutory Auditors certificate only required if you click option 2 /4 in Sr. No-3 of the Form. Certificate from CA is not valid.
8. The auditors certificate  format is as designed by the ICAI /CA firm.

Format of Auditor Certificate for Form DPT 3

For the purpose of filing DPT 3, the auditors certificate format is as designed by the ICAI /CA firm.

To,

The Board of Directors

………………………….. Private Limited

…………………………………………..

………………………………………………..

Chartered Accountants’ Certificate on Return of Deposit (Form DPT 3) under clause (31) of section 2 and section 73 of Companies Act, 2013 read with Rule 2(1) (c ) and Rule 16A of Companies (Acceptance of Deposits) Rules, 2014 along with Companies (Acceptance of Deposits) Amendment Rules, 2019.

(1) The accompanying “Certificate by the Statutory Auditor” is based on the verification of the books & records from 01st April, 2014 to 31st March, 2019 of M/s. ……………………………..Private Limited having CIN (“The Company”), incorporated on ………………………, having its Registered Office At …………………………………………. in respect of filing of Onetime Return of Deposit with the Registrar of Companies, Karnataka.

(2) This certificate is issued pursuant to the requirements of clause (31) of section 2 and section 73 of Companies Act, 2013 read with Rule 2(1) (c ) and 16A of Companies (Acceptance of Deposits) Rules, 2014 along with Companies (Acceptance of Deposits) Amendment Rules, 2019.

Managements’ Responsibility

(3) The preparation of the Form DPT-3 for reporting of onetime Return of Deposit for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies(Acceptance of Deposits) Rules, 2014 along with Companies (Acceptance of Deposits) Amendment Rules, 2019 is the responsibility of the Board of Directors of the Company. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the Form DPT-3 and related documents applying an appropriate basis for preparation; and making estimates that are reasonable in the circumstances.

(4) The Board of Directors are also responsible for ensuring that the Company complies with the requirements of the Companies Act, 2013 read with respective rules and provides all relevant information as required therein.

Chartered Accountants’ Responsibility

(5) Pursuant to clause (31) of section 2 and section 73 of Companies Act, 2013 read with Rule 2(1) (c ) and Rule 16A of Companies (Acceptance of Deposits) Rules, 2014 and Companies (Acceptance of Deposits) Amendment Rules, 2019 the auditors have to issue a certificate with respect to the filing of 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 31st March, 2019. Based on the Companies (Acceptance of Deposits) Amendment Rules, 2019 notified on 22nd January, 2019 statutory auditors have to issue a certificate for Onetime Return in form DPT-3 for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies(Acceptance of Deposits) Rules, 2014.

(6) In view of the above regulations, the Board of Directors of the Company have approached us, and it is our responsibility to issue auditors’ certificate to file one time return by the Company with the Registrar of Companies, Karnataka.

(7) We conducted our examination of books of account provided to us in accordance with the Guidance Note on Reports or Certificates for Special Purposes issued by the Institute of Chartered Accountants of India (“ICAI”) as well as other applicable pronouncements of the ICAI. The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India.

Opinion

(8) Based on our verification of audited books of account period from 01st April, 2014 to 31st March, 2015, 01st April, 2015 to 31st March, 2016, 01st April, 2016 to 31st March, 2017 and 01st April, 2017 to 31st March, 2018 and from 01st April, 2018 to 31st March, 2019 we certify the following that;

a) The Company has outstanding loan from shareholders Rs.__________________.

b) The Company has received advance towards supply of goods amounting to Rs.____________.

c) The Company has outstanding loan from directors or relative of directors amounting to Rs. ___________.

d) The Company has outstanding loan from any banking institution Rs. _______________.

Restrictions on Use

(9) This certificate has been issued to the Board of Directors of the Company at their specific request for filing of Onetime return of outstanding receipt of money or loan by a company but not considered as deposits with the Registrar of Companies, Karnataka and should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior consent in writing.

 

 

 

Place: Bangalore

Date:

For ……………………

Chartered Accountants

FRN …………………

………………………

Partner

M.No………..

AUDITOR CERTIFICATE

This is to certify that M/s. …………………………… Private Limited, having CIN No. ………………………………. (“The Company”) and having its office at …………………………………….. has accepted *deposits as detailed in Annexure 1.

We further certify that, there is an outstanding receipt of money or loan by the company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April 2014 to 31st March 2019 based on the records and books of the Company.

We have verified the audited financial statements for the period from 01st April, 2014 to 31st March, 2015, 01st April, 2015 to 31st March, 2016, 01st April, 2016 to 31st March, 2017 and 01st April, 2017 to 31st March, 2018 and from 01st April, 2018 to 31st March, 2019 maintain by the Company for these deposits and details as given in Annexure are found to be true and correct.

 

 

 

Place: Bangalore

Date:

For ……………………

Chartered Accountants

FRN …………………

………………………

Partner

M.No………..

Also Read-One time return of deposit form DPT-3 (Format of Auditor Certificate)

Author Bio

Qualification: CS
Company: Scarlet Wireless India Pvt Ltd.
Location: Bangalore, Karnataka, IN
Member Since: 13 May 2019 | Total Posts: 8
A Associate Company Secretary and a CA Aspirant, I Ankita Gupta have just started my career into the legal field and I would learn & grow at every given opportunity & there by prove to be an asset to which ever organization I am associated with and enhance my legal and secretarial skills. View Full Profile

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3 Comments

    1. Ankita84 says:

      There is no prescribed format for Auditor Certificate as per Webinar held on 17-06-2019.
      As per my understanding (based on the webinar held on above date) the Auditor Certificate issued by the ICAI should normally be followed.

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