Article summarizes Companies (Acceptance of Deposits) Amendment Rules, 2019 as follows:-

1. Every company receiving monies deposits, loan, ICD, advances, etc. is required to file DPT-3 annually.

2. One time return for every company who have outstanding monies which are not deposits as per rule 2(1) (c) (Specified in Annexure-1.)

Meaning of Deposits Section 2(31) – Deposits includes any receipt of money by the way of loan or in any other form by a company, but doesn’t include categories as mentioned hereunder in Annexure-I.

Explanation of Amendment Rule/Notification/ Circular Applicable form & Due Date of Filing
Rule-16

Clarifies that Return of Deposit (DPT-3) to be filed by every company other than government company for:-

a. Deposits,

b. Transaction not considered as deposits, as mentioned in Annexure-1 or

c. Both.

Rule-16 A(3)-Newly Inserted

Every company other than Government Company shall file one time return of outstating loan by the company but not considered as deposits from 1st April 2014 till 22nd Jan 2019.

 

DPT-3 with 90 days from the date of publication of notification i.e. 20th April 2019.However amended form in yet to be notified.

In case of non-compliance fine of Rs. 500 per day as specified in Rule-21.

Transaction which are not Considered as Deposits (Annexure- 1)

  • Amount received from Central Government, State Government and Local/ State Authority.
  • Amount from Foreign Government, Foreign & International Bank etc. as per FEMA.
  • Amount received as a loan or facility from Banks, PFIs, and CPs.
  • Interest free security deposits.
  • Convertible bond/ debenture
  • Share application money except not allotted/ refunded
  • Business advances- Supply of Goods/Services-365 days, Against Immovable Property.
  • Security deposit for performance of contract for supply of goods or provision of services.
  • Advance for providing future services in form of warranty or maintenance contract.
  • Advance received and as allowed by sectorial regulator as per central government & state government.
  • Advance for subscription towards publication.
  • In case company accepting money doesn’t have necessary permission or approval to deal in goods or properties or services.
  • Amount received by a company under Collective Investment Scheme in compliance with regulations framed by SEBI.
  • Any Amount received by way of subscription in respect of a chit under Chit Fund Act, 1982.

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2 Comments

  1. Padmanabh Ranchhoddas Merchant says:

    Ministry of Corporate Affairs does not seem to have put up prescribed E – Form DPT – 3 on the website.

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