Form DPT- 3 (MCA)

DPT 3 is a return of deposit and loans that every company must file to give information about deposits and outstanding loans or money other than deposits. To safeguard the creditor's interest, the Government notified the amendment in the companies Rules 2014 through companies amendment Rules 2019.

All companies other than a government company must file DPT-3. And, as per Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, the following companies are exempt from filing the return: 

• Banking company
  
• Non-Banking Financial Company 
  
• A finance housing company registered with National Housing Bank
  
• Any other company as notified under subsection (1) of section 73
  

• One time return
  
• Annual return 
  

Transactions not considered as deposits

Any amount received or guaranteed by the government, foreign bank/foreign government.

• Any amount received as a loan/facility from any Insurance Companies, Public Financial Institutions, or other Banks
  
• Subscription to securities and call in advance.
  
• Any amount received from the company's director or a relative of the director, who held the positions of director at the time of providing the loan.  
  
• Any amount received from the company's employee does not exceed his annual salary under the employment contract, such as a non-interest bearing security deposit.
  
• Any amount received for the company's business as vendor's advance for the supply of goods or services or security deposit.
  
• Receiving Rs. 25 lakh or more by a startup company in the form of a convertible note.
  
• Amount raised by issuing secured debentures or bonds with the first charge, non-convertible debentures not having a charge on the company's assets.
  
• Unsecured loans from the promoters of any company.
  
• Any deposit or subscription in respect of chit under the Chit Funds Act, received by the company from Nidhi Company.
  
• Any amount or deposit received by the company from mutual funds, alternate investment funds or collective investment scheme registered with SEBI.
  
• Any other amount is not considered as a deposit under Rule 2(1)(c).
  

Therefore, any amount, whether secured or unsecured and outstanding money or loan not considered deposits, must be reported. 

Due date of filing

DPT is to be file by 30th June of every year. For, e.g. for FY 2020-21, the due date for DPT-03 is 30th June 2021.

Tenure of return

The onetime return has to be filed for a period starting from 01st April 2020 to 31st March 2021. Hence, all the receipts received in this period and outstanding as of 31st March 2021 had to be reported. The annual return is for the period 01st April 2020 to 31st March 2021. DPT will include all amounts outstanding as of date. 

Information to be furnished

The information to be furnished are CIN of the company, email ID, objects of the company, net worth of the company, details of the charge, if any, the total amount outstanding as of 31st March 2021, and information of credit rating.  

Documents required to be furnished

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

Filing fees

The fees will be payable according to the Companies (Registration Offices and Fees) Rules.  

Consequences of non-filing 

Any company not filing DPT-3 and further keeps accepting deposits and loans then there may be the following consequences:

• Under Section 73, A penalty of a minimum of one crore or twice the amount of deposits and loans, whichever is lower, may extend to Rs. 10 crores. 
  
• For every officer in default imprisonment up to 7 years or with a penalty up to Rs. 25 lakhs which may extend upto Rs. 2 crores.  
  
• Under Rule 21, a penalty may extend up to Rs 5,000 on the company and every officer in default and where the contravention is a continuing one, a penalty of Rs. 500 for every day since the default.  
  

There is no established view that a NIL return needs to be filed. However, it is beneficial to take the safer approach and file a NIL return.