Every Company other than Government company, shall file a 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 in form DPT-3 within 90 days from the closure of financial year i.e by 30 June Every Year.

Deposit Meaning :

“Deposit” includes any receipt of money by way of deposit or loan or in any other form, by a company but does not include such categories of amount [Provided in Rule 2(1)C] as may be prescribed in consultation with the RBI.

Exempted Deposits [Sec. 73 – Sec. 76]

The definition of deposit excludes certain transactions from its purview which are given in the Rule 2(1)(C) of the Companies (Acceptance of Deposit Rules), 2014

• Amounts Received from the Government/Foreign Sources
• Loans from Banking company/Financial Institution
• Inter company deposits
• Amount Received from Employee by way of Security Deposit
• Amount Received from Agents
• Advances against Orders (for supply of goods etc.)
• Subscriptions to Securities
• Calls in Advance of Shares
• Trust Moneys
• Amount Received from Directors or his relative
• Amount Received from Members (only in case of Private co.)
• Secured Bonds or Debentures
• Convertible Bonds or Debentures
• Promoters Unsecured Loans pursuant to stipulations laid down by the financial institutions for granting the loan.

Which Companies are exempted from reporting requirements ?

Government Companies, Banking Companies and NBFCs.

Return filing will be one time or every year ?

DPT-3 is now annual compliance by all the companies which has exempted deposits also. Earlier, it was compulsory only for companies which have accepted deposits under Sec 73 to 76.

According to new version of DPT-3, there are 4 purposes mentioned in point no. 3 of the said form:

1. Onetime Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits
2. Return of Deposit
3. Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014
4. Return of Deposit and Particulars of transactions by a company not considered as deposit.

Documents to be submitted

• Auditors certificate 
• Copy of Trust deed
• Deposit Insurance contract, wherever applicable and mentioned in the form
• Copy of instrument creating the charge
• List of depositors – List of deposits matured and cheque issued but not yet cleared to be shown separately 
• Details of liquid assets 
• Optional attachment

Filing fees

Normal Challan fees will be paid as per the Authorised Capital of the Company (i.e. From Rs. 300 to 600 per Form)

Consequences of non-filing 

If the company does not adhere to the requirements of DPT-3 and keeps accepting deposits then it will face the following consequences:

• Under Section 73 A penalty of minimum 1 crore or twice the amount of deposits whichever is lower,  which may extend to Rs. 10 crore 
• For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.  25 lakhs which may extend to Rs. 2 crores.  
• Under Rule 21 On the company and every officer in default a fine which may extend up to Rs.  5,000, and where the contravention is a continuing one, a fine of Rs. 500 for every day since the default.  

Note –

There is no clear view, that a NIL return must be filed each year, however, it is always beneficial to take the conservative approach and file a NIL return.