Mandatory Reporting of Loan by all Companies

MCA vide notification dated 22nd Jan 2019 came with two additional reporting where it wants to know the information about outstanding receipt of money or loan by a company. 

DPT 3 is a return of deposits that companies need to file to enounce the information about deposits and/or outstanding receipt of loan or money other than deposits.

One-time Reporting – Every Company is needed to submit a onetime return for all Outstanding receipt of Money or Loan by a Company, but which is not considered as deposits as per Rules 2 of Companies (Acceptance of Deposits) Rules, 2014. Outstanding here means all receipt of money or loan which is outstanding from 1st April 2014 till 22nd Jan 2019.  

Annual Reporting – Every Company also need to file an annual return for all outstanding receipt of Money or Loan by a Company as on the 31st day of March of that year duly Audited by Auditor of the Company.

Which category of loans are needed to be reported?

According to notification, all amount of money which company has received and remain outstanding, are required to be reported.

The information can be classified as: –

  • All outstanding receipts
  • Unsecured Loans
  • Secured Loans

Important Dates

Due date for “one-time return” –22nd April 2019

Due date for “Annual Reporting” – On or before 30th day of June of Every Year

Who is exempt from filing the return?

Every company excluding government company must file this DPT-3.  According to Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, the following companies are also under the category of exemption: 

  • Banking company
  • Non-Banking Financial Company 
  • A housing finance company who is registered with National Housing Bank
  • Any other company as declare under proviso to subsection (1) to section 73 of the Act
  • Whether each company require to file e-form DPT-3 as per rule 16A.

After publication of these rules, all the Companies like Small, Non-Small, Private, Public, OPC, etc. required to file DPT-3.

Penalties for non-filing 

If the company does not comply to the requirements of DPT-3 and keeps accepting deposits, then these are the penalties: –

Under Section 73

A penalty of minimum Rs. 1 crore or double the amount of deposits whichever is lower, which may extend to Rs. 10 crores.

For every officer who is in default imprisonment up to seven years and with a fine not less than INR  25 lakhs which may extend to INR 2 crores.  

Under Rule 21

On the company & every officer in default a fine which may extend up to INR 5,000, & where the breach is a continuing one, a fine of Rs. 500 for every day since the default.

Whether DPT-3 required filing for Both loans i.e. Secured and Unsecured Loan?

Yes, it is required to filling DPT-3 for both secured and unsecured Loan.

Whether DPT-3 required for ECB received by Company?

According to the rule 16A DPT-3 required to file for each loan received by Company. So, one can assume that if Company has received ECB in such case Company have to essentially file e-form DPT-3.

Outstanding Loan & receipt of money in relation to which period required to be reported under this rule.

Outstanding receipt of Money & Loan from 1st April 2014 t-22nd January 2019 is needed to report in e-form DPT-3.

If any company does not accept the loan or not having any outstanding Loan. Whether need to file DPT-3?

If there is no outstanding Loan or company does not accept any loan, there is no need to file e-form DPT-3 with ROC.

Latest Updates

Form DPT-3 has been included in the list of forms under the CFSS (Companies Fresh Start Scheme) 2020, Accordingly, no late fees will be charged if the form is filled till 30th of September 2020.

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