DPT3 Form of Company [ Acceptance of Deposit] Rules

Hey Jayanta, thanks for your detailed question on Form DPT-3 and Acceptance of Deposits for your unlisted public limited company.

Let me break it down clearly for you:

About Form DPT-3:

• It’s the Annual Return of Deposits filed by companies to disclose details of deposits accepted or outstanding as on 31st March.

• Applicable for companies that have accepted deposits from members or public.

Section 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014 defines “Deposits” and exclusions from it.

Your situation:

• You are an unlisted public limited company (family-run).

• You receive contributions/loans from directors who are also employees.

• You have loans from private banks and state subsidy from Assam Govt on production.

Now, the four points in Form DPT-3 you mention likely relate to the nature of deposits accepted under Rule 2(1)(c).

Key clarifications:

1. Loans from Directors:

   • Loans from directors are generally NOT treated as deposits under the Companies Act if they are secured and properly documented.

   • However, if it is an unsecured loan and not considered advance salary or reimbursement, it may be treated as a deposit.

2. Loans from Banks:

   • Loans from banks or financial institutions are not deposits under the Act and are excluded from the definition of deposits.

3. State Subsidy:

   • State subsidies or grants received for production are not deposits.

4. Family-run with director contributions:

   • Contributions by directors/shareholders may or may not be deposits depending on whether they fall under the legal definition of deposits.

   • If the amount is repayable and taken as a loan without terms, it may qualify as a deposit.

Rule 2(1)(c) Exclusions:

• Deposits do not include loans from banks or financial institutions.

• Amounts received from directors/shareholders as loan are deposits only if they meet the Act’s definition.

• Salary or reimbursement paid to directors/employees is not a deposit.

So, for your DPT-3 filing:

• You need to select the applicable option(s) based on what kind of deposits you actually have.

• If you have no deposits as defined by the Act (because loans are from banks or directors under exempt categories), you may file DPT-3 with “No Deposits” declaration.

• If you do have deposits (unsecured loans from directors treated as deposits), you must disclose accordingly.

Suggestion:

• Review all loans/contributions to classify whether they qualify as deposits.

• Consult your company’s statutory auditor or company secretary for exact classification and filing.

• Ensure proper documentation of loans to avoid misclassification.