Provisions related to filing DPT-3 & DPT-4 – Return of Deposits

DPT -3 – Return of deposits to be filed with the Registrar.- Every company to which Companies (Acceptance of Deposits) Rules, 2014 apply, shall on or before the 30th day of June, of every year, file with the Registrar, a return in Form DPT-3 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.

 DPT-4 – Statement regarding deposits existing as on the date of commencement of the Act.- For the purposes of clause (a) of sub-section (1) of section 74, the statement shall be in Form DPT-4 and needs to be filed within three months from the commencement of Companies Act, 2013 i.e. on or before 30th June 2014. 

Summary of filing DPT-3 & DPT-4 :

DPT-3 is not a new form, it is a substitute of form under Rule 10 of The Companies (Acceptance of Deposits) Rules, 1975. Earlier, the return was simultaneously furnished to RBI, but now that requirement has been dispensed with. The earlier form could be filed with non-audited data of 31^st March of previous financial year, but now the form requires data of net-worth as per latest audited balance sheet preceding the date of return. However, the balance sheet of 31.03.2014 will be drawn as per provisions of Revised Schedule VI of Companies Act, 1956.

DPT-3 is applicable for companies who have deposits as on 31.03.2014 and now those deposits falls in the definition of deposit under Companies (Acceptance of Deposit) Rules, 2014.

However, DPT-4 is a one-time form, this being applicable for this year only (i.e 30.06.2014). In fact, the section 74 will lose its relevance after one year of the commencement of Act. It is through DPT-4, ROC will keep a track of those companies which need to repay loan/deposit before 31.03.2015.

Explanation to Rule 19 of The Companies (Acceptance of Deposit) Rules, 2014 can be referred for repayment of deposits accepted under Companies Act, 1956:

“It is hereby clarified that in case of a company which had accepted or invited public deposits under the relevant provisions of the Companies Act, 1956 and rules made under that Act (hereinafter known as “Earlier Deposits”) and has been repaying such deposits and interest thereon in accordance with such provisions, the provisions of clause (b) of sub-section (1) of section 74 of the Act shall be deemed to have been complied with if the company complies with requirements under the Act and these rules and continues to repay such deposits and interest due thereon on due dates for the remaining period of such deposit in accordance with the terms and conditions and period of such Earlier Deposits and in compliance with the requirements under the Act and these rules.”

DPT-3 & DPT-4 will be filed as an attachment to e-Form GNL-2 alongwith Auditor’s certificate.

(CA Amit G. Chandani, ACA, ACMA, Lic. ICSI, B.Com-  (@) [email protected])