MCA Form DPT-3: Return of Deposits

What is MCA Form DPT-3?

Form DPT-3 is a one-time return form that is to be filed by the company having outstanding loans not been treated as deposits and being mandatory compliance, all companies expect few shall file it every year.

*Deposits – As per Companies (Acceptance of Deposits) Rules, 1975 the term “deposits” means any deposit of money with, and includes any amount borrowed by a company, but does not include:-

(i) any amount received from the Central Government or a State Government or any amount received from any other source and whose repayment is guaranteed by the Central Government or a State Government, or any amount received from the local authority or a foreign Government or any other foreign citizen, authority or person;

(ii) any amount received as a loan from any banking company or from the State Bank of India or any of its subsidiary banks or from a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949), or a corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or 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) ;

(iii) any amount received as a loan from the Industrial Finance Corporation of India, or from a State Financial Corporation or from the Shipping Development Fund Committee constituted under section 15 of the Merchant Shipping Act, or from the Unit Trust of India or from the Industrial Development Bank of India or from an Electricity Board or from the Life Insurance Corporation of India or from the Rehabilitation Industries Corporation of India Limited or the State Trading Corporation of India Limited or the Minerals and Metals Trading Corporation of India Limited or the Rural Electrification Corporation Limited or the Agricultural Finance Corporation Limited or the Industrial Reconstruction Corporation of India Limited or the Industrial Credit and Investment Corporation of India Limited or the National Industrial Development Corporation of India Limited or the Tamil Nadu Industrial and Investment Corporation Limited or the State Industrial and Investment Corporation of Maharashtra Limited “or from the General Insurance Corporation of India and its subsidiaries, namely, the National Insurance Company Limited, the New India Assurance Company Limited, the Oriental Fire and General Insurance Company Limited and the United Fire and General Insurance Company Limited” or from the Gujarat Industrial Investment Corporation Limited or from any financial company wholly owned by the Central Government or State Government or from the Oil Industry Development Board or Housing Development Finance Corporation Limited, or from any other Financial Company or Public Financial Institutions which may be notified by the Central Government in this behalf in consultation with the Reserve Bank of India.

(iv) any amount received by a Company from any other Company;

(v) any amount received from an employee of the company by way of security deposit ;

(vi) any amount received by way of security or as an advance from any purchasing agent, selling agent, or other agents in the course of or for the purposes of the business of the company or any advance received against orders for the supply of goods or properties or for the rendering of any service;

(vii) any amount received by way of subscriptions to any shares, stock, bonds or debentures such bonds or debentures as are covered by sub-clause (x) pending the allotment of the said shares, stock, bonds or debentures and any amount received by way of calls in advance on shares, in accordance with the Articles of Association of the Company so long as such amount is not repayable to the members under the Articles of Association of the Company ;

(viii) any amount received in trust or any amount in transit ;

(ix) any amount received by a private company from a person who, at the time of the receipt of the amount, was a director, relative of director or member: Provided that the director or member, as the case may be, from whom money is received, furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting from others;

Every company other than Government Company must file Form DPT-3 which is considered as an annual return that must be filed on or before 30^th June of the following year.

The specified form was introduced by MCA with an intention to report the complete details of Exempted Deposits.

*Exempted Deposits – money received from the Government or any other source whose payment is guaranteed by the Government or any sum of money received from local or statutory authority. **

Purpose of filing Form DPT-3

In order to provide information to the Registrar of Companies about the loan received by the company, Form DPT-3 is filed on MCA portal.

Who all are exempt from filing form DPT-3?

Every company except the following:

1. Government Company
2. Banking Company
3. Housing finance company registered with National Housing Bank
4. Any other company as notified by the Central Government

The outcome of non-filing of Form DPT-3 form with MCA

Under Section 73 A, the penalty is charged with a minimum of Rs.1 Crore or twice the number of deposits whichever is lower, which may be extended to Rs. 10 Crore.

Applicable fees:

• In case of a company having share capital

• In case of company not having share capital

• Additional Fees Rules:

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