Complete Guide to Filing Form DPT-3 (MCA) for Return of Deposits

Introduction to Form DPT-3

Form DPT-3 is a mandatory return form that companies in India need to file to report outstanding loans not treated as deposits. This requirement, enforced by the Ministry of Corporate Affairs (MCA), excludes only government companies. The form helps ensure transparency and compliance with regulatory standards regarding company loans.

Background and Legal Framework

Genesis of Form DPT-3

On January 22, 2019, the MCA introduced the Companies (Acceptance of Deposits) Amendment Rules, 2019. This amendment added new provisions to the Companies (Acceptance of Deposits) Rules, 2014, necessitating the filing of Form DPT-3 for outstanding receipts of money or loans that are not considered deposits.

Relevant Legal Provisions

• Companies Act, 2013: Sections 2(31), 73, and 469.
• Companies (Acceptance of Deposits) Rules, 2014: Specifically Rule 2(1)(c) and Rule 16A.
• Notification: G.S.R. 42(E) dated January 22, 2019.

Who Needs to File Form DPT-3?

All companies, excluding government companies, need to file Form DPT-3. This includes:

• Private limited companies
• One Person Companies (OPCs)
• Limited companies
• Section 8 companies

Types of Returns and Filing Periodicity

One-time Return

This return covers the period from April 1, 2014, to March 31, 2019. It reports all outstanding receipts of money or loans not considered deposits during this period.

Annual Return

The annual return is required for every financial year and needs to be filed by June 30th of the subsequent year. For instance, for FY 2023-24, the due date is June 30, 2024.

Exemptions from Filing

Companies exempt from filing include:

• Government companies
• Banking companies
• Non-Banking Financial Companies (NBFCs)
• Housing finance companies registered with the National Housing Bank
• Any other company notified under the proviso to subsection (1) to section 73 of the Act

Transactions Not Considered as Deposits

Certain transactions are explicitly excluded from being treated as deposits, including:

• Amounts received from the government or guaranteed by the government.
• Loans or facilities from public financial institutions, insurance companies, or banks.
• Subscription to securities and call in advance.
• Advances for supply of goods or provision of services.
• Unsecured loans from promoters.
• Amounts received by Nidhi Companies or under the Chit Funds Act, 1982.
• Amounts received from collective investment schemes, alternate investment funds, or mutual funds registered with SEBI.

Step-by-Step Guide to Filing Form DPT-3

Step 1: Gather Necessary Information

Before filing, ensure you have the following information and documents:

• Corporate Identification Number (CIN) of the company
• Email ID
• Objects of the company
• Net worth of the company
• Particulars of charge, if any
• Total amount outstanding as on March 31st of the reporting year
• Particulars of credit rating, if applicable
• Auditor’s certificate
• Copy of Trust deed (if applicable)
• Deposit Insurance contract (if applicable)
• Copy of the instrument creating the charge
• List of depositors and details of deposits matured but not yet cleared
• Details of liquid assets

Step 2: Access the MCA Portal

Log in to the MCA21 portal using your credentials.

Step 3: Download the Form

Download Form DPT-3 from the MCA21 portal.

Step 4: Fill in the Form

Complete the form with accurate information. Attach the necessary documents where specified.

Step 5: Payment of Filing Fees

Calculate and pay the requisite fees as per the Companies (Registration Offices and Fees) Rules.

Step 6: Submit the Form

After filling in the form and attaching the required documents, submit it through the MCA21 portal.

Consequences of Non-Compliance

Failing to file Form DPT-3 can result in severe penalties:

• Under Section 73: A minimum penalty of ?1 crore or twice the amount of deposits, which can extend up to Rs.10 crore. Officers in default may face imprisonment up to seven years and a fine ranging from Rs. 25 lakhs to Rs. 2 crores.
• Under Rule 21: A fine up to Rs. 5,000, and if the contravention is continuous, an additional fine of Rs. 500 per day.

Conclusion

Filing Form DPT-3 is a crucial compliance requirement for companies in India to report outstanding loans not considered deposits. This guide covers the background, legal framework, types of returns, exemptions, and a step-by-step process to ensure accurate filing. Adhering to these guidelines helps avoid hefty penalties and ensures regulatory compliance.

 

For Detailed Format of Form DPT-3 Refer the link below 

https://www.legalmantra.net//admin/assets/upload_image/documents/DPT-3_SAMPLE.pdf

 

"Unlock the Potential of Legal Expertise with LegalMantra.net - Your Trusted Legal Consultancy Partner”

Article Compiled by:-

Mayank Garg

+91 9582627751

(LegalMantra.net Team)

Disclaimer: Every effort has been made to avoid errors or omissions in this material in spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition In no event the author shall be liable for any direct indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information Many sources have been considered including Newspapers, Journals, Bare Acts, Case Materials , Charted Secretary, Research Papers etc.

Print