Monday, February 4, 2019

Form DPT-3 - Return of Deposits

The Ministry of Corporate Affairs, vide notification dated 22nd January 2019, has notified Companies (Acceptance of Deposits) Amendment Rules 2019, in which sub Rule 3 in Rule 16A states that every company other than government company is required to file an e-form DPT 3, furnishing details of outstanding loans or receipts which are not in the nature of deposits.

Applicability of Return of Deposits

Every company, other than government company, to which Companies (Acceptance Of Deposits) Rules, 2014 applies, shall have to file Form DPT-3.

The list of companies required to file DPT-3 is as follows.
a) Private Companies
b) Public Companies
c) Small Companies
d) Dormant Companies
e) Section 8 Companies
f) One-person Companies

Due Date of Filing Form DPT-3

The companies shall file Form DPT-3 within 90 days of publication of notification in the Official Gazette that is on or before 22nd April 2019 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014.

Thereafter, by 30th June every year, the company has to furnish information as on 31st March of that year, being the audited balance sheet date.

Types of Outstanding Loans and Receipts to be Reported

Companies having loan whether Secured/ Unsecured or External Commercial Borrowings from:
a) Central Govt (CG), State Govt (SG), amount received from local authority or amount received from statutory authority constituted under an act of Parliament or State legislature.
b) Foreign Banks, Governments, Institutions, Corporates, Credit agencies, citizens, authorities.
c) Any banking company, SBI, Banking Institutions.
d) Public Finance institutions notified by CG, Regional Financial institutions, Insurance Companies and Scheduled Banks.
e) Amount received against issue of commercial paper or any other instrument.
f) Inter Corporate borrowings
g) Amount received towards subscription to any securities including share application money or advance towards allotment of securities pending allotment, so long as such amount is appropriated only against the amount due on allotment of securities applied for.
h) Amount received from the person who at the time of receipt was Director or relative of Director of Private Company.
i) Amount raised by the issue of Bonds and Debentures secured by first charge and Bonds or debentures compulsorily convertible into shares within ten years.
j) Amount raised by issue of non-convertible debentures not constituting any charge on the assets of company listed on recognised stock exchange.
k) Amount received from an employee of the company not exceeding his annual salary under a contract for employment with the company in the nature of non-interest-bearing security deposit.
l) Non-interest-bearing amount received and held in trust.
m) Amount received for the purpose of business of the company-

  1. As an advance for supply of goods or services and such advance is appropriated against supply of goods or provision of services within a period of three hundred and sixty-five days from the date of acceptance of such advance.
  2. As an advance received in connection with consideration for immovable property under an agreement. Provided that such advance is adjusted against such property.
  3. As security deposits for performance of contact of supply of goods or provision of services.
  4. As an advance received under long term projects for supply of capital goods except received in connection with consideration for immovable property under an agreement. Provided that such advance is adjusted against such property.
  5. As an advance towards consideration for providing future services in the form of warrant or maintenance contract, if period for providing such service does not exceed five years from the date of acceptance of such service.
  6. As an advance received and allowed by any sectoral regulator or in accordance with directions of CG or SG.
  7. As an advance for subscription towards publication, whether print or in electronic to be adjusted against receipt of such publications.
  8. Amount brought in by promoters in the form of unsecured loans.
  9. Amount received by Nidhi Company under Section 406 of this act.
  10. Amount received by way of subscription in respect of chit under Chit Funds Act 1982
  11. Amount received under any collective investment scheme in compliance with SEBI regulations.
  12. Amount of 25 Lacs or more received by start-up company by way of convertible notes, in a single transaction from a person.
  13. Amount received from Alternative investment funds, Domestic venture capital funds, Infrastructure Investment trusts, Real state investment trusts, Mutual funds registered with SEBI.
Period to be Covered for Filing of DPT-3

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

Attachments with DPT-3

The following documents needs to be attached with the Form DPT-3.
a) Auditor’s Certificate
b) Copy of Trust Deed
c) Copy of Instrument creating charge
d) List of Depositors
e) Details of liquid assets
f) Optional attachments, if any

The form notified by the MCA can be viewed here: