Demystifying E-Form DPT-3: Your Guide to Online Filing for Return of Deposits

Origin:

To protect the rights of creditors and depositors, the Central Government, in consultation with the Reserve Bank of India, made changes to the Companies (Acceptance of Deposits) Rules 2014. This update was communicated through the Companies (Acceptance of Deposits) Amendment Rules 2019 and introduced E-Form DPT-3 as a requirement under the Companies Act, 2013, to ensure companies disclosure information about the deposits, outstanding loans, and non-deposit transactions they accept.

Understanding E-Form DPT-3:

The e-Form DPT-3 is an Annual compliance form mandatory for the companies to disclose their financial obligations, more specifically about deposits and the transactions related to them, annually in a time bound manner. 

Which entities are required to file the return of E-Form DPT-3?

The eligible entities for Form DPT-3 include

 

Which entities are not required to file the return of E-Form DPT-3?

According to Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, the following companies are  exempt:

 

    • Government Companies

    • Banking companies

    • Non-Banking Financial Companies

    • Housing finance companies registered with the National Housing Bank

    • Any other company as notified under the proviso to subsection (1) of Section 73 of the Act.

Relevance of Transactions or Debts in E-Form DPT-3:

This form extensively covers a variety of financial transactions and responsibilities, including secured debts, unsecured debts, external borrowings, and commercial borrowings. Importantly, it should be noted that the submission of Form DPT-3 is mandatory, even when a company receives a loan from specific entities, namely: a holding company, a subsidiary company, or an associate company, or from the Directors or Promoters of the company.

E-Form DPT-3

Procedure for E-Form DPT-3 Online Filing: 

Companies can file e-form DPT-3 by accessing the Ministry of Corporate Affairs (MCA21) portal. After filling in the necessary information, the form is submitted on the MCA portal along with requisite government fees. Upon successful submission, companies receive an acknowledgement (challan) for E-Form DPT-3.

Required Documents for E-Form DPT-3 Submission:

To successfully file Form DPT-3, the usual documents needed include:

 

    • Auditor’s Certificate

    • Deposit Insurance Contract

    • Copy of the Trust Deed

    • Copy of the Instrument Creating Charge

    • List of Depositors

    • Details of Liquid Assets

    • Outstanding Receipts of Money or Loans

DPT-3 Form

DPT-3 Filing Deadline: 

The deadline for submitting the annual return of e-Form DPT-3 is June 30 of each year.

Form DPT-3 Filing Fees:

 

i. Fee applicable in case the company has share capital

Nominal Share Capital Fee applicable
Less than 1,00,000 Rupees 200 per document
1,00,000 to 4,99,999 l 9o x Rupees 300 per document
5,00,000 to 24,99,999  Rupees 400 per document 
25,00,000 to 99,99,999  Rupees 500 per document 
1,00,00,000 or more  Rupees 600 per document 

ii. Fee applicable in case of company not having share capital

Fee applicable  Rupees 200 per document 

Consequences of Delayed Filing:

Period of delays  Additional fee
Up to 30 days  2 times of normal fees
More than 30 days and up to 60 days 4 times of normal fees
More than 60 days and up to 90 days 6 times of normal fees
More than 90 days and up to 180 days 10 times of normal fees
More than 180 days  12 times of normal fees

Conclusion

E-form DPT-3 is an important compliance requirement for corporates, and the non compliance of which may result in pecuniary loss and other legal repercussions. Therefore, it is of utmost importance that the corporates must know about the criticality of this e-form and act diligently.

Legal Terminus (www.legalterminus.com) offers significant assistance in filling out the DPT-3 form in a hassle free and timely manner. Reach out to our team right now to take advantage of our expert services and effectively fulfil your legal and regulatory requirements.

FAQ

  • What is the primary purpose of E-Form DPT-3?

    The primary purpose of E-Form DPT-3 is to provide a comprehensive overview of a company’s outstanding deposits, specifically detailing deposits that have matured or remain unpaid.

  • Can amendments be made after submission?

    In certain cases, amendments can be made after the initial submission.

  • Is there a requirement for a company to file Form DPT-3 if the loan is not taken for business purposes?

    The requirement to file Form DPT-3 is applicable to all companies, irrespective of the purpose for which the loan is taken.

  • Is there a requirement for a company to file Form DPT-3 if the loan is taken from the directors or relatives of the directors?

    Loans taken from directors or their relatives are typically considered as deposits under the Companies Act, 2013. Therefore, such transactions would generally fall under the purview of Form DPT-3 filing requirements.

  • Who will be responsible for filing the DPT-3 form?

    The responsibility to file Form DPT-3 typically lies with the company itself. The person responsible for the overall compliance and legal affairs of the company, often a company secretary or a designated officer, is usually in charge of ensuring that Form DPT-3 is filed accurately and on time.

  • The company has not engaged in any loan/deposit transactions during the current financial year; however, there is an outstanding loan amount of Rs. 2 lakh at year-end. Is it mandatory for the company to file Form DPT-3 under these circumstances?

    Yes, Even if there were no new loan transactions during the current financial year, the existence of an outstanding loan amount at the year-end triggers the requirement to file Form DPT-3 for disclosure and compliance purposes.

  • The company has been involved in loan/deposit transactions during the current financial year; nevertheless, there is no outstanding loan amount at the year-end. Is it compulsory for the company to submit Form DPT-3 under these circumstances?

    Yes, the company needs to submit Form DPT-3 because it had loan transactions during the current financial year, even though there is no outstanding loan amount at the end of the year.

  • The company has not engaged in any loan/deposit transactions during the financial year; and has no remaining loans at the end of the year, does it have to fill out Form DPT-3?

    No, it may not be obligatory for the company to file Form DPT-3 under these circumstances.

Disclaimer:

This article, dated March 22, 2024, provides a general overview of the e-form DPT-03 filings and their requirements. It is not legal advice, and readers are encouraged to seek professional advice for the most current information and personal guidance. The author and publisher do not accept liability for errors or omissions in this article.

Prepared by

Mr. Smruti Ranjan Sahoo,

B.Com, LL.B.

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