The ministry of corporate Affairs introduced a new rule asking companies to disclose the information about outstanding receipt of money under Companies (Acceptance of Deposit) Amendment Rules, 2019. All companies need to file Form DPT-3 one-time on or before the 22nd of April 2019.
According to the notification dated 22th January, 2019, every 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 as specified in Form DPT-3, within ninety days from the date of publication of the notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.
This rule is not applicable for following types of companies;
- Government Company
- Banking Company
- Non-Banking financial Company
- Housing Finance Company
Here is a brief guideline for the DPT-3
- All companies (Private, Public, OPC, etc.) except Government Companies are required to file form DPT-3
- One Time return in form DPT-3 is required to be filed within 90 days from date of publication of this notification in Official Gazette i.e. 90 days from 22nd January, 2019
- Period of outstanding loan/money shall be from April 01, 2014 till January 22, 2019
- The form shall also be filed in case the loan/money outstanding is taken from its holding/subsidiary or associate company
- If a company does not accept a loan or does not have any outstanding loan, there is no need to comply with the provisions of this rule
- Fees shall be payable as per the Companies (Registration Offices and Fees) Rules, 2014
- Rule 2(1) (c) of Companies (Acceptance of Deposits) Rules, 2014 enlist transactions which are not treated as deposits. DPT-3 needs to file in respect of these items
Filling is required to be done for both secured & unsecured outstanding money/business loan not considered as deposits. CFOs and groups which are associating CFOs in regulatory compliance need to take note of this rule.