Mandatory reporting of outstanding receipt of money or loan to ROC

MCA has issued a new notification dated 22nd January, 2019, which requiring mandatory reporting of details of the outstanding receipt of money or loan which have not been considered as deposits as per Companies Act. The period of such receipt of money or loan has to be considered from 1st April, 2014 till the date of publication of the Notification i.e. 22nd January, 2019 and which are outstanding as on the date. The reporting has to be made within 90 days from the date of issuing of this notification in form DPT-3. Therefore the last date of filing of form DPT-3 is 21st April, 2019.

Following documents are required to be attached at the time of filing of form DPT 3:

• Certificate of the Auditor
• Proof of trust deed
• An instrument creating charge
• Particulars of liquid assets if any

Category of outstanding amount which are required to be reported includes following:

• Any amount received as a loan or facility from any banking company/ Public Financial Institutions
• Any amount received from government
• Any amount received from foreign Governments; or Foreign or international banks/ Financials Institution/ Foreign body corporates/Collaborator/Foreign citizen/Foreign export credit agencies;
• Any amount received against issue of commercial paper
• Any amount received by the company from any other company (inter corporate loan/investments).
• share application money or advance towards allotment of securities pending allotment,
• Any amount received from a person who, at the time of the receipt of the amount, was a director of the company or the relative of the director of a private company.
• Any amount raised by the issue of bonds or debentures
• Any amount received from an employee of the company
• Any amount received in course of, or for the purposes of the business of the company- As an advance for supply of goods or provision of services/As advance accounted in connection with consideration for immovable property/As security deposit /advance received under long term projects for supply of capital goods, etc.
• etc (Such other outstanding receipt of money or loan which have not been considered as deposits as per Companies Act)