Procedure to file onetime Form DPT-3

The Ministry of Corporate Affairs vide its notification dated 22.01.2019 bought a very important change w.r.t. mandatory furnishing of information regarding outstanding receipt of loan or money by every Company other than Government Company.

Accordingly, sub-rule (3) was inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014 which reads as following:

“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 31^st March, 2019, as specified in Form DPT-3 within “ninety days from 31st March, 2019” along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.

PRELIMINARY INFORMATION REQUIRED FOR FILING THE FORM DPT-3: 

1. Audited Balance Sheet of the Company. In case the accounts of the Company have not been audited for the FY 2018-19, then the audited balance sheet for the FY 2017-18 can be referred to.

2. Total amounts of outstanding money or loan as on 31.03.2019 received by a Company but not considered as deposits

STEP BY STEP PROCEDURE TO FILE FORM DPT-3: 

1. Once you have downloaded and opened the Form, type the CIN of the Company and click on pre-fill.

2. The basic details of the Company such as Name, Registered Office, E-mail ID, company type and object clause of the Company shall be pre-filled. However, you can edit the e-mail ID of the Company and enter a revised one.

3. Click on the tab “Onetime return 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”.

4. Enter the bifurcation of net worth of the Company against serial no. 8 in the Form. The same has to be filed in accordance with the latest audited balance sheet preceding the date of the return. In case the audited balance sheet for the FY 2018-19 is not available, then the figures of FY 2017-18 can be filled in.

5. Enter amount of outstanding money or loan received by a Company as on 31.03.2019 but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014. Note that only a consolidated figure has to be entered and zero can also be entered.

6. It is important to note that tab against serial no 13 and serial no. 16 shall also appear but the same is not required to be filled in for the following reasons:

• • Particulars of charge (Serial No. 13): When we refer the help kit of the Form, it is mentioned that when the charge is secured, the details of trust deed, trustee, etc. securing the same has to be entered which is not applicable to our case.
  • Credit Rating obtained (Serial No. 16): The same has to be entered in case the Company has accepted deposits and the same is again not applicable in our case.

7. There is no mandatory attached as required in case of onetime filing of Form DPT-3. But still it would be recommended to attach the unaudited balance sheet supporting and evidencing the figure of outstanding money or loan and their origin.

8. Enter the board resolution number and date giving authorisation to sign the Form.

9. Enter the Designation (Director, Manager, CEO, CFO and Company Secretary) of the person digitally signing the Form. Note that the disqualified directors should not be able to sign the Form.

10. Click on Check Form. Affix digital signature and then click on pre-scrunity.

11. Once the Form is pre-scrutinised, file the same on MCA portal.

FREQUENTLY ASKED QUESTIONS (FAQs) ON FORM DPT-3: 

1. What is the cut-off date to enter the figures?

The cut-off date is 31.03.2019. Earlier, it was 22.01.2019 but after the amendment notification issued by the MCA dated 30.04.2019, the cut-off date has been revised to 31.03.2019 since the Form was not deployed earlier.

2. In case the Company has no outstanding loan or money, whether it is still required to file the Form?

As per the language of the notification, every Company having outstanding loan or money only has to file. However, in case the Company still wants to file the Form, it can do so as the Form is taking zero figures as well against the outstanding money/loan tab.

3. What is the penalty in case the Company doesn’t file the Form?

As per Rule 21 of the Companies (Acceptance of Deposits) Rules, 2014, if any Company has defaulted in compliance of any provision as mentioned in the Deposits Rules for which no punishment is provided in the Act, the company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees and where the contravention is a continuing one, with a further fine which may extend to five hundred rupees for every day after the first day during which the contravention continues.

{The author  i.e. Kajal Goyal is a Company Secretary in Practice at Kajal Goyal and Associates and can be reached at (M) 9999952595 and (E) [email protected]}