On 22nd January, 2019 MCA came up with a new sub-rule under Companies (Acceptance of Deposits), Rules, 2014 which says that every company (other than government company) shall file an onetime return of outstanding receipt of money or Loan by a Company but not considered as deposits and an explanation is added in Rule 16 of Companies (Acceptance of Deposits), Rules, 2014 in e form DPT-3 .

Let’s understand these provisions one by one.

Rule 16A (3) [Newly added sub rule] vide Companies (Acceptance Of Deposits ) Amendment Rules, 2019

“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.”.

Law says, Every Company, be its small company, Public company, Private Company, One Person Company shall file an e Form DPT-3 for a period from 1st April, 2014 to the date of publication of this notification i.e. 22nd Jan, 2019.

Please note that this e form DPT-3 is an onetime form.

Let’s cover few FAQs w.r.t this rule.

1. What is the Last date for filing New e form DPT-3 ??

Law says ’90 days from the date of its publication’ means 90 days from 22nd Jan, 2019, i.e.  21st April, 2019.

2. What period is to be covered for filing this return??

The period which is covered for filing this return is from 1st April, 2014 to 22nd Jan, 2019.

3. If a company does not accept any loan or does not having any outstanding loan, then also company need to comply with the provisions of this rule?

If company does not accept loan or does not having any outstanding loan, there is not need to comply with the provisions of this rule.

4. What does ‘Outstanding receipt of money or loan’ means??

Any loan treated as Deposit or not outstanding From 1st April, 2014 to 22nd January, 2019.

Explanation inserted under Rule 16 vide Companies (Acceptance Of Deposits ) Amendment Rules, 2019

“It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.” 

Every Company other than a Government Company shall file a Return of Deposit or Particulars of Transaction not considered as Deposit or Both to furnish the information contained in its Audited financials as on 31st March, of previous financial year.

Let’s cover few FAQs w.r.t this explanation.

1. What is the last date of filing this form??

On or before the 30th day of June every year.

2. What does ‘Particulars not considered as deposit’ means??

Loan exempted under deposit rules and section 73 shall be considered as particular of non-considered as deposit. For example Loan from companies, Directors, Banks, Financial Institutions, Members etc. in short every loan taken by company is covered in Rule 16.

In nutshell:

Companies (Acceptance Of Deposits ) Amendment Rules, 2019

Companies Acceptance Of Deposits Amendment Rules 2019

Author:  C S Ekta Maheshwari is the Author of this article and is a Practicing Company Secretary.  For further assistance/query, specimen of forms etc. feel free to mail at pcs.ekta@gmail.com.

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