The Ministry of Corporate Affairs vide its notification dated 22.01.2019 notified to furnish the information regarding outstanding receipt of loan or money by every Company other than Government Company.
Accordingly, sub-rule (3) was inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014 which reads as following:
Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to 31st March, 2019, as specified in Form DPT-3 within 'ninety days from 31st March, 2019” along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.
Further as per Rule 1(3) of The Companies (Acceptance of Deposits) Rules, 2014, these rules shall not applicable on:
(i) a banking company;
(ii) 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;
(iii) a housing finance company registered with the National Housing Bank established under the National Housing Bank Act, 1987 (53 of 1987); and
(iv) a company specified by the Central Government under the proviso to sub-section (1) of section 73 of the Act.
Non-Applicability of filing Form DPT-3:
So one can say that requirement of filing Return of Deposit in Form DPT-3 is mentioned under Rule 16 of Companies (Acceptance of Deposits) Rules, 2014, and therefore it is not applicable on Government Company as well as above mentioned companies.
- The Return mainly consists of outstanding receipt of money or loan by a company but not considered as deposits. The receipt of money or loan which is not consider as Deposits is specified under Rule 2(C) of The Companies (Acceptance of Deposits) Rules, 2014.
- It is not mandatory to attach Auditor's Certificate with the Form. However it is advisable to attach the Auditor's Certificate for authentication of values. If anyone doesn't want to attach Auditor's Certificate, they can keep it with them as proof which may be beneficial in future or can be used at any time as and when required.
- In any case if Audit of financials of the company is not possible, in that case one can only do audit of Deposits, receipts and other related amounts and that audited amount can be filled in the form. It is not mandatory that whole Financial Statement should be audited.
- There are many doubts whether NIL return is required or not. It is beneficial to file NIL Return in case no such outstanding receipt of money or loan was present. It will be over compliance only and will not create any problem.
Disclaimer: This material and the information contained herein are intended to provide general information on a particular subject. Before making any decision or taking any action you should consult a qualified professional adviser. Author shall not be responsible for any loss whatsoever sustained by any person who relies on this material.