MANDATORY INFORMATION OF LOAN TO roc- New Compliance- Series 410
MANDATORY INFORMATION
OF LOAN TO ROC-
New Compliance
New Rule 16A w.e.f. 22.01.2019
Article updated as on 22nd January, 2019
[1]MCA on 22nd January, 2019 has
published Companies (Acceptance of Deposits) Amendment Rules, 2019. They shall
come into effect from 22nd January, 2019.
By these
amended rules “One explanation added in Rule 16” and one “new Rule 16A” has
been introduced.
As per earlier 16
“Every company to which deposit rules apply (means loan considered as deposit),
shall on or before the 30th day of June, of every year, file with the
Registrar, a return in Form DPT-3 mentioning the
details of deposit.
As per
existing rule 16, Every company accepting Deposit as per Section 73 read with
relevant rules was required to file every year e-form DPT-3 before 30th
June mentioning the details of pending deposits.
First Amendment:
By Amendment Rule, 2019: Explanation added in Rule 16 i.e. “It is hereby clarified that Form
DPT-3 shall be used for filing return of deposit or particulars not considered
as deposit or both by every company other than Government Company”.
I.
Which Companies are covered in rule 16 explanation:-
All the Companies (Whether,
Small, Non Small, Private, Public, OPC etc.) required to file DPT-3 after
publication of these rules i.e. 22nd January, 2019.
II. After publication of these rules i.e. 22nd
January, 2019. When the first time requirement of filing of DPT-3 shall be
trigger for Companies.
As per Explanation every
Company have to file DPT-3 every year after end of financial year before 30th
June.
Therefore, first time
requirement shall be trigger to file before 30th June, 2019.
(between 01st April, 2019 to 30th June, 2019)
III. What is meaning of “Deposit or Particulars Not
Considered as Deposit” as mentioned in explanation.
Deposit: Whatever includes in definition of Deposit as per Companies Act
and rules eg. Acceptance of loan
from public, acceptance of loan from shareholders by public limited Company.
Particular non
considered as deposit: Whatever loan exempted under
deposit rules and sections 73 shall be considered as particular of
non-considered as deposit. Eg
·
Loan from Director is exempted
Deposit. However will be covered under this head.
·
Loan from shareholders in case of
private Companies.
· Loan from Body Corporates not
considered as deposit. However covered under above head etc.
Note:
After reading of above
questions and explanation, one can opine that since 22nd January,
2019 a Company whether accepted loan from directors, body corporates or any
other exempted deposit still shall required to file e-form DPT-3 on or before
30th June every year.
In other words, one can opine
that after 22nd January, 2019 every loan shall be reported to ROC in
e-form DPT-3 every year before 30th June.
Second Amendment:
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 no 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.”.
Note:
v One Time Form: For
purpose of Rule 16A, DPT-3 shall be filed onetime only.
v Period of Filing: Within
90 days of publication of Rules i.e. 22nd April, 2019 (22nd
January, 2019 + 90 days)
I. Which information are required to file according to
Rule 16A in e-form DPT-3:-
As per New Rule
16A, Every Company has to file e-form DPT-3 with ROC containing following
Information:
ü Every Outstanding Loan in Company as on
22nd January, 2019.
ü Every outstanding receipt of money in
Company as on 22nd January, 2019.
However, any loan
received which falls under definition of deposit not required to mention while
filing e-form DPT-3 under Rule 16A.
II. 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.
III.Outstanding Loan and outstanding receipt of money
which period required to be report under this rule.
Outstanding receipt of Money and Loan from 1st April, 2014 to
22nd January, 2019
i m creating one more whataspp group (Gyan Gurukul 5) for professionals to share there queries with others and get resolution of them and to share vacancies to get potential professionals.
(Author – CS Divesh
Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi
and can be contacted at csdiveshgoyal@gmail.com)
If any one of you and your friend wanna join give details to me on wtsapp 8130757966
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.
This is only a
knowledge sharing initiative and author does not intend to solicit any business
or profession.
Excellent Sir, very helpful article...
ReplyDeleteKeep sharing 😃
Thanks for this Knowledge sharing initiative.
ReplyDeletecommendable efforts sir,
ReplyDeleteMy query is: A private company had taken a ECB (External Commercial Borrowings)in the year 2016 from its foreign collaborator body corporate(holding 50% of shareholding) with a maturity period of 5 years.Is it falling under the preview of deposits?
No
DeleteHi Sir,
ReplyDeleteExcellent article. However I have one doubt on the stated paragraph :
"However, any loan received which falls under definition of deposit not required to mention while filing e-form DPT-3 under Rule 16A."
Could you provide clarity on this.
Not required to be mentioned
ReplyDeleteGreat share!
ReplyDeleteI love this bucket list and you know you're right. sand blasting machine manufacturer. We all have the same amount of hours in a day so put them to good use. We all have to start somewhere and your plan is perfect. I understand the way of the attractive to the customer with the products sand blasting machine.
Sand blasting machines like shot blasting machine, sand blasting machine, and grit blasting machines, Wood Working Machinery Dust Extraction unit, Abrasive Blasting Media and various others. Keep it works and share with us your latest information. My time will come but I know I'm on the right path.
They are similar to small communities that you own - check them out if you haven't already. It's all got a lot better than before!t. Value that list of thousands but I'll get there.
Thanks for sharing. Have a nice week ahead.
Visit at : www.gritblast.co.in
Also check
portable shot blasting machine
portable sand blasting machine
sand blasting cabinet
grit blasting cabinet
shot blasting cabinet
Regards,
Ankit Manawat.