MCA vide notification dated 22nd January, 2019 notified Companies (Acceptance of Deposits), Amendment Rules, 2019. As per Companies (Acceptance of Deposits) Amendment Rules now every company except government company needs to submit form DPT-3 to the Registrar of Companies in electronic form. Form DPT-3 shall furnish details of-
which are not in nature of deposits.
Section 2(31) of Companies Act, 2013, ”deposit” includes any receipt of money by way of depositor loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of India.
As per Rule 16A, form DPT-3 shall be applicable to all companies except Government Company which includes-
Form DPT-3 shall not be applicable to-
Every company needs to file form DPT-3 within 90 days from 30th March, 2019 I e 29th June 2019 along with applicable fees.
Basically there are two types of DPT-3 forms.
The companies eligible to file form DPT-3 shall furnish to MCA outstanding loans and receipt of money not being deposits from 1st April, 2014 to 31st March, 2019.
In case if the company has any loan and receipt of money which are repaid since 1st April 2014 to 31st March, 2019 then in such case there is no need to file Form DPT-3.
The following documents are required to be submitted along with form DPT-3 with MCA
As per notification dated 22nd January, 2019 all amount of money which a company has received and remains outstanding are required to be reported. Following types of loans needs to be reported.-
But the above mentioned shall not include any amount considered as deposit.
Where a Private Limited Company has accepted loans from directors or relatives then in addition to form DPT-3 it shall also disclose the information regarding these transactions in its Boards Report and notes to accounts.
The penalties are divided into two categories-
If the form DPT-3 is not filed within the due date as mentioned above then it shall attract a penalty of Rs 5,000/- and Rs 5,000 per day in case of a continuing default, on the company and its officers in default.
Where any company does not files form DPT-3 and accepts deposits then-
Every officer who is in default shall be chargeable with fine of Rs 25,000 to Rs 2 Cr and imprisonment upto 7 years. For willful defaults, punishment as per Section 447 of the companies act 2013 shall be levied.