FAQ’s DPT-3 Mandatory Information of Loan to ROC - Series - 412

FAQ’s DPT-3
Mandatory Information of Loan to ROC

In this Flash Editorial author begins by referring provisions of Mandatory Filing of Details of Loan with ROC in short then further continue with some important FAQ’s in relation to DPT-3. The main thrust of the article, however, is upon the Latest MCA [1]Notification dated: 22nd January, 2019 with reference to Companies (Acceptance of Deposits) Amendment Rules, 2019.


This is article no. 412 of the series of editorials written by the author on corporate laws {including Companies Act, 2013, SEBI, RBI Regulations, IBC, LLP Act, 2008 etc.}.

By Amendment Rule, 2019: Every Company other than Government Company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in term of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of this notification in the official Gazette (i.e. 22nd January, 2019) in e-form DPT-3 within 90 days from the date of publication.”.

    1.    Whether every company needs to file e-form DPT-3 as per rule 16A.
All the Companies (Whether, Small, Non Small, Private, Public, OPC, etc.) required to file DPT-3 after publication of these rules.

    2.    What is due date for filing of e-form DPT-3 in Rule 16A?

Due date of Filing of e-form DPT-3 in rule 16A is 22nd April, 2019. Because form required to file within 90 days of publication of these rules. (22nd January, 2019 + 90 days)

    3.    Whether DPT-3 required filing for Secured or Unsecured Loan or Both?

Yes, DPT-3 required for filing for both secured and unsecured Loan.

    4.    Whether DPT-3 required for ECB received by Company?

As per rule 16A DPT-3 required to file for each and every loan received by Company. Therefore, one can opine that if Company has received ECB in such case Company have to mandatorily file e-form DPT-3.

   5.    Outstanding Loan and outstanding receipt of money in relation to which period required to be report under this rule.

Outstanding receipt of Money and Loan from 1st April, 2014 to 22nd January, 2019 (i.e. date of publication of notice) is required to report in e-form DPT-3..

   6.    If Company received loan from Holding Company or Subsidiary Company or Associate Company. Whether company need to file DPT-3.

As per rule 16A DPT-3 required to file for each and every loan received by Company. Therefore, Company required to file e-form DPT-3 even for loan received from H,S and Associate.
   
    7.    If a company not having any outstanding loan or outstanding receipt of money as on 22.01.2019 (i.e. date of publication of rules). Whether company need to file e-form DPT-3.

As per rule 16A DPT-3 Every Company other than Government Company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits.

Therefore, one can opine that in the above mentioned situation there is no need to file e-form DPT-3.

    8.    If some outstanding receipt of money or loan had become due before 01st April, 2014, still continuing and outstanding in record of Company. Whether such outstanding loan or receipt required to report in DPT-3.

As per rule 16A DPT-3 required to file for each and every loan received by Company outstanding as on date of publication of these rules (22.01.2019).
Therefore, one can opine that such outstanding loan is required to report to ROC in e-form DPT-3.
  
      9.      If Company received loan after 01st April, 2014 but such loan is not outstanding as on 22.01.2019 (date of rules). Whether company need to report such loan in DPT-3.

As per language of Rule 16A, company has to report outstanding Loan and outstanding receipt of money to Roc in DPT-3. If Company has already paid Loan and such loan is not outstanding in record of Company. There is no need to inform such loan to ROC.

     10.  If company doesn’t accept loan or doesn’t having any outstanding Loan. Whether need to file DPT-3,

If there is no outstanding Loan or company doesn’t accept any loan there is no need to file e-form DPT-3 with ROC.

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Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com). Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION
  

Comments

  1. Whether loan accepted from shareholders of Private Limited Company; which was considered as exempt deposit under the Companies Act, 1956 are required to be reported?

    ReplyDelete
  2. In my opiy,This report is meant for all loans/ deposit whether exemeted or otherwise.

    ReplyDelete
  3. Do we need to report the money received against issue of CCDs?

    ReplyDelete
  4. Debentures are debt to the company, so I think we should

    ReplyDelete
  5. Auditor’s certificate whether required for DPT-3 One Time Return:

    The amendment to one-time reporting is made by insertion of new sub-rule (3) in Rule 16A, whereas the requirement to obtain auditor’s certificate is contained in Rule 16 which pertains to Return of Deposit. Please clarify whether the one-time return is required to be supported by auditor’s certificate or not.

    ReplyDelete
  6. Use this reference from Vakilsearch for more information on DPT 3 filing

    ReplyDelete
  7. DPT-3 Filing is obligatory for organizations joined under the Companies Act. Record it now on the off chance that you have forthcoming credits or receipts and stay agreeable with the MCA rules. To know more click https://bit.ly/3klr8aV

    ReplyDelete

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