Return of Deposit & Borrowings in Form DPT-3

DPT – 3 (RETURN OF DEPOSIT)

• Quick understanding

• MCA notification dated January 22, 2019 had directed to all the Company, except government company, to file:

1. a one time return in e-Form DPT-3, on furnishing the details of all the outstanding receipt of money or loan taken between April 01, 2014 to March 31, 2019, which will not be treated as a deposit, except an exempted deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014, (hereinafter referred to as “One time return of exempted deposit”) and
2. a return on annual basis in e-Form DPT-3, by furnishing the particulars of receipt of money or loan by a company which are not to be considered as deposits, i.e. exempted deposit, at the end of every financial year, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter referred to as “Yearly return of exempted deposit”),

• Last date of Filing

1. One-time return: June 29, 2019 i.e. 90 (ninety) days from March 31, 2019;
2. Yearly return: June 30 of that year for which the information is to be furnished.

Purpose

• Onetime Return: particulars of all outstanding receipt of money / loan drawn from April 01, 2014 to March 31, 2019, which is not regarded as Deposit i.e. exempted Deposit, as per rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014.

• Yearly return for the:

1. the details of receipt of money or loan by a company but not considered as deposits i.e. exempted deposit, at the end of financial year, as per rule 2 (1) (c) of the Companies (Acceptance of Deposits) Rules, 2014;
2. return of deposit;

Exempted Deposit which needs to be stated in DPT 3

Transactions listed below shall not be taken as deposits or exempted deposits:

• Any amount received from:

1. the Central Government; or
2. a State Government; or any amount due on account of any loan or advance from any other source the repayment of which is guaranteed by the Central Government or State Government; or
3. any amount received from a local authority; or
4. any amount received from statutory authority constituted under an Act of Parliament or a State Legislature.

• Any amount received from:

1. Foreign Governments; or
2. Foreign or international banks;
3. Multilateral financial institutions;
4. Foreign Governments owned development financial institutions;
5. Foreign export credit agencies;
6. Foreign collaborators;
7. Foreign body corporates;
8. Foreign citizens;
9. Foreign authorities or;
10. Persons residents outside India subject to the provisions of Foreign Exchange Management Act, 1999 (42 of 1999).

• Any amount received as:

1. A loan or facility obtained from any banking company; or
2. From the State Bank of India or any of its subsidiary banks; or
3. Such a banking entity as may be notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949); or
4. A corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980); or
5. From a Co-operative Bank as defined in clause (b-ii) of Section 2 of the Reserve Bank of India Act, 1934 (2 of 1934).

• Any amount received as loan or financial assistance from:

1. Public Financial Institutions, as notified by the Central Government; or
2. Any regional financial institutions; or
3. Insurance companies; or
4. Scheduled Banks under the definition provided in the Reserve Bank of India Act,1934 (2 of 1934).

• Any amount received against issue of commercial paper or any other instruments issued in accordance with the guidelines or notification issued by the Reserve Bank of India.
• Any amount received by the company from any other company.
• Any amount received and held in pursuance of an offer made in accordance with the provisions of the Act towards subscription of any securities including share application money or advance towards allotment of securities pending allotment, provided that the said amount is appropriated only against the amount due on allotment of such securities applied for.
• Any sum received from any individual who, at the time when the individual received the sum, is a director of the company or the relative of the director, in relation to a private company.

1. Any amount as may be raised by the issue of bonds or debentures secured by a first charge or a charge pari passu with the first charge on any asset specified in Schedule III to the Act other than intangible assets of the company, or (b) compulsorily convertible bonds or debentures with a conversion period of ten years convertible into stocks of the company.

• Any amount raised through the issue of non-convertible debentures that does not amount to a charge on the assets of the company, as is listed on a recognized stock exchange as per the regulations made by the Securities and Exchange Board of India.
• Any amount received from the employee of the company not exceeding his annual salary on account of the contract of employment with the company in the nature of non-interest bearing security deposit.
• Any non-interest-bearing amount received and held in trust.
• Any sum received in the course of, or for the purposes of the business of the company –

1. As an advance to supply of goods or provision of services treated in any manner whatsoever provided that such advance shall be applied to supply of goods or provision of services within three hundred and sixty-five days from the date of the acceptance thereof.
2. As advance as may be accounted for in any manner whatever, received as consideration for immovable property under an agreement or arrangement, provided that the said advance shall be adjusted against the said immovable property as per the terms of the agreement or arrangement.
3. As security deposit for the performance of the contract of supply of goods and/or provision of services.
4. As advance received under long term projects for supply of capital goods except those covered under item (b) of sub-clause (xii) clause (c) of sub rule (1) of rule (2) of the Companies (Acceptance of Deposits) Rules, 2014.
5. As an advance to consider providing services in the future in the form of a warranty or maintenance contract according to written agreement, provided that the said period for providing such services shall not be more than the period accepted as per common business practice or five years from the date of acceptance of such service, whichever is less.
6. As advance received and allowed by any sectoral regulator or in accordance with directions of Central or State Government.
7. Being advance against subscription towards the publication, whether in print or electronic, and adjustment will be made against the receipt of such publications.

• Any amount brought in by the promoters of the company by way of unsecured loans, based on the stipulation of any lending financial institution and/ or any bank.
• Any amount which a Nidhi company receives in accordance with the regulations made under Section 406 of the Act.
• Any amount received through subscription in respect of chit under the Chit Funds Act, 1982(4 of 1982).
• Any amount received by company under any collective investment scheme, as per the regulations framed by the Securities and Exchange Board of India.
• An amount of rupees twenty-five lakh or above, by way of a convertible note, in a single installment, compulsorily convertible into equity shares or repayable within a period of five years from the date of issue, by a person to a start-up company.
• Any amount received by a company from –

1. Alternate Investment Funds;
2. Domestic venture Capital Funds;
3. Infrastructure Investments Trusts;
4. Real Estate Investment Trusts;
5. Mutual funds that have been approved by the Securities and Exchange Board of India

• Filing not applicable to

Every Company is required to file the e-Form DPT-3, except the following:

• Government Company;
• Non-banking and finance company; and
• Banking Company

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