FORM DPT – 3 | Company Suggestion

FORM DPT – 3

FORM DPT-3 is a return of deposits that companies had to file to ROC and to furnish information about deposits and / or outstanding receipts of loan or money other than deposits.

The basic purpose of this FORM to communicate about information of Deposits received by the Company, entity wise information of loan received by the Company etc. and MCA keep control over the Companies from acceptance of Loan, Deposits and Advance.

WHO IS EXEMPT TO FILE FORM DPT 3?

Listed Companies: Companies listed on any stock exchange in India are exempt from filing FORM DPT-3. This is because they are already subject to stringent disclosure requirements under securities laws.
Companies Registered Under Section 8: Companies registered under Section 8 of the Companies Act, 2013 are also exempt. These are companies that are established for promoting commerce, art, science, religion, charity, or any such object.
Government Companies: Companies owned by the Central or State Government are exempt from filing FORM DPT-3.
Dormant Companies: As per the Companies Act, 2013, a dormant company is one which has not been carrying on any business or operation, or has not made any significant accounting transaction during the last two financial years, or has not filed Financial Statements and Annual Returns during the last two financial years. Such companies may be exempt from filing FORM DPT-3, subject to specific conditions and notifications issued by the MCA.
Small Companies: the exemption for small companies to file FORM DPT-3 may vary based on specific notifications and amendments by the MCA.

TRANSACTION NOT CONSIDER AS DEPOSITS

Loans from Financial Institutions: Loans obtained from scheduled banks, the Industrial Finance Corporation of India, the Exim Bank of India, the National Bank for Agriculture and Rural Development, the Small Industries Development Bank of India, the Industrial Development Bank of India, or any other financial institution notified by the Central Government are not considered deposits.

Loans from Directors: Amounts received from directors of the company are not treated as deposits, provided such loans are disclosed in the company’s balance sheet.

Amounts Received from Employees: Contributions received from employees towards any scheme notified by the company for the benefit of such employees are not considered deposits. This includes provident fund, superannuation fund, pension fund, or any other fund.

Trade Credits: Amounts received from suppliers or vendors in the ordinary course of business for goods or services provided are not considered deposits. This includes credit transactions that are part of the normal business operations.

Government Grants and Subsidies: Grants or subsidies received from the Central or State Government or any other government body for specific purposes are not treated as deposits.

Security Deposits: Amounts received as security deposits in the ordinary course of business, such as deposits for the supply of goods or services, are not considered deposits, provided they are adjusted against the supply of such goods or services.

Inter-corporate Deposits: Deposits received from other companies are not considered public deposits, provided they are made in accordance with the rules and regulations governing inter-corporate deposits.

Share Application Money: Amounts received as share application money, provided they are utilized for the allotment of shares within the stipulated time frame, are not considered deposits.

Redemption Proceeds: Proceeds from the redemption of preference shares or debentures are not considered deposits.

Advances Received for Goods and Services: Advances received for the supply of goods or services that are to be adjusted against the supply of such goods or services are not considered deposits.

DUE DATES OF FORM DPT – 3

The due date for filing the annual return is 30^th June of every year. For example for F.Y. 2023-2024, the due date for DPT-3 is 30^th June 2024

KEY CONTENT OF FORM DPT – 3

Company Information
CIN (Corporate Identification Number)
Name of the Company
Address of the Registered Office
Email ID of the Company

Type of Return
One-time Return
Annual Return

Return Details
Particulars of Charge Holders
Names of the charge holders
Addresses of the charge holders
Details of Deposit
Total amount of outstanding deposits
Total number of deposit holders
Total amount of deposits repaid during the year
Total amount of deposits renewed during the year
Particulars of Receipt of Money or Loan
Total amount outstanding as on the date of return
Particulars of money received and loans
Details of any loan from directors
Details of any loan from shareholders
Details of any loan from any other source

Attachments
Certificate from the auditor of the company confirming the particulars in the form.
If applicable, a copy of the trust deed.
If applicable, details of the instrument creating the charge.
A list of all depositors, including their details.
Details of the liquid assets maintained by the company.

Declaration
Declaration signed by the Director or CFO of the company certifying that the information provided is true and correct to the best of their knowledge.
The form must be digitally signed by the director of the company.
Certification by a practicing professional (Chartered Accountant/Company Secretary/Cost Accountant) verifying the accuracy of the return.

CONSEQUENCES OF NON FILING OF DPT 3

Non-filing of FORM DPT-3 with the Ministry of Corporate Affairs (MCA) in India can lead to several legal and financial consequences for a company and its directors.

1. Penalties:

For the Company: A company that fails to file FORM DPT-3 within the prescribed time limit may be liable to pay a penalty of up to Rs. 1 lakh (Rs. 100,000).
For the Directors: Directors of the company who are responsible for the non-filing may be liable to pay a penalty of up to Rs. 1 lakh (Rs. 100,000) and could face imprisonment for a term up to 6 months.

2. Restrictions on Corporate Actions:

Companies that have not filed FORM DPT-3 may face restrictions on undertaking certain corporate actions, such as:

Transferring shares
Making investments
Providing loans or guarantees
Conducting board meetings

3. Ineligibility for Certain Benefits:

Non-filing of FORM DPT-3 may render a company ineligible for certain benefits and exemptions provided under the Companies Act, 2013, and other related laws.

4. Legal Proceedings:

The Registrar of Companies or any other authority may initiate legal proceedings against the company and its directors for non-compliance. This can lead to additional legal and financial burdens.

5. Disqualification of Directors:

Repeated non-compliance or failure to rectify the default within the stipulated time can lead to the disqualification of directors from holding positions in other companies.

6. Impact on Funding and Credit:

Non-filing of FORM DPT-3 can raise red flags for potential investors and lenders, making it difficult for the company to secure funding or credit.

7. Striking Off of Name:

In cases of persistent non-compliance, the ROC may initiate action to strike off the company’s name from the register of companies, effectively dissolving the company.

The consequences of non-filing of FORM DPT-3 can be severe and far-reaching, affecting both the company and its directors. Therefore, it is crucial for companies to adhere to the filing requirements and deadlines set by the MCA to avoid these legal and financial repercussions. Timely and accurate filing of FORM DPT-3 is essential for maintaining compliance, ensuring transparency, and avoiding potential penalties and restrictions.

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