As per the notification dated January 22nd, 2019, issued by the Ministry of Corporate Affairs (“MCA”), the filing of e-form DPT-3 needs to be undertaken by every company other than the Government company (and other exempted companies) thereby disclosing the outstanding receipt of money or loan taken by a company, which are not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 of the Companies (Acceptance of Deposits) Rules, 2014 (“Deposit Rules”). This requirement was introduced in addition to the original obligation for filing of e-form DPT-3 for reporting deposits accepted by eligible companies as per rule 16 of the Deposit Rules. Therefore, presently the e-form DPT-3 needs to be filed for both deposits or particulars of transactions not considered as deposits or both.
The requirement for the filing of e-form DPT-3 is applicable to every company except the type of companies listed below:
- a banking company;
- a non-banking financial company as defined in the Reserve Bank of India Act, 1934 (2 of 1934) registered with the Reserve Bank of India;
- a housing finance company registered with the National Housing Bank established under the National Housing Bank Act, 1987 (53 of 1987);
- any other company as notified under proviso to subsection (1) to section 73 of the Companies Act, 2013;
- any company which has NIL outstanding deposits/loans/amount not considered as deposits as of 31st March.
The filing of e-form DPT-3 for reporting of deposits / any amount of loan or advances not considered as deposits as of 31st March of the preceding financial year shall be undertaken on or before 30th June. The statutory auditor’s certificate is required to be attached with the e-form only when the return of deposits is being filed i.e., the purpose of filing the form is either of the two:
1. Return of deposit or
2. Return of deposit and particulars of transactions by a company are not considered deposits.
It is pertinent to note that the requirement to file an auditor’s certificate in e-form DPT-3 shall not apply in case the form is being filed only for reporting outstanding receipt of money or loan taken by a company, which are not considered as deposits.
As per the provisions of the Deposit Rules, in case a company fails to file e-form DPT-3 for return of deposit or reporting of particulars of transactions by a company not considered as deposit, then the company and every officer who is in default shall be punishable with fine which may extend to INR 5000 (Indian Rupees Five Thousand Only) and where the contravention is a continuing one, with a further fine which may extend to INR 500 (Indian Rupees Five Hundred Only) for every day after the first day during which the contravention continues.