FAQs on MCA Mandate to File Receipts and Deposits

Ministry Of Corporate Affairs has decided to make disclosure guidelines more strict and rigid. The FAQ’s related to Companies (Acceptance of Deposits) Amendment Rules, 2019 are provided below.

  1. What are Companies (Acceptance of Deposits) Amendment Rules, 2019?
    These are rules by Ministry of Corporate Affairs where every company other than Government companies need to submit a one time return covering from April 1, 2014, to January 22, 2019, on all outstanding receipts of money or loans that were taken, which are otherwise not considered deposits.
  2. What is the amendment related to loans and receipts called?
    The rule is called Companies (Acceptance of Deposits) Amendment Rules, 2019.
  3. When were the Companies (Acceptance of Deposits) Amendment Rules, 2019 notified by RoC? 
    The notification was published on January 22, 2019.
  4. When did this MCA mandate come to force? 
    Companies (Acceptance of Deposits) Amendment Rules, 2019 has come to force on January 22, 2019.
  5. What is the name of MCA Form that all Companies need to submit to comply with this mandate? 
    Form DPT – 3 is the form to be used by all companies, except Government companies to file Return of Deposits to RoC. The form is available for filing online at http://www.mca.gov.in/MinistryV2/companyformsdownload.html.
  6. What is the time limit? 
    Form DPT-3 needs to be filed within ninety days from the date of publication of the notification in The Gazette of India. The notification was published on 22nd January 2019 and the said form needs to be filed by 22nd April 2019.
  7. Who has to comply with the mandate? 
    Every company in India other than Government companies need to comply with the mandate/rule.
  8. Is it mandatory for both Private & Public Limited Companies? 
    It is mandatory only for Private Companies in India, Public Limited Companies do not need to comply with the rule.
  9. How many companies are expected to comply with this rule? 
    There are 16,75,677 Private Companies in India, and all the private companies need to comply with the rule.
  10. What particulars need to be submitted to RoC? 
    All outstanding receipts of money or loans that are taken by a private company from  April 1, 2014, to January 22, 2019, need to be submitted to RoC.
  11. What is the date for companies to finalize their accounts and file to RoC? 
    Companies shall finalize accounts till 22nd January 2019 and file every information appropriately to RoC.
  12. What is the period from when the particulars need to be submitted? 
    All private companies need to submit outstanding loans and receipts from April 1, 2014, to January 22, 2019.
  13. Do Government companies need to comply with the rule of Companies (Acceptance of Deposits) Amendment Rules, 2019? 
    Government companies in India do not need to comply with the rule of Companies (Acceptance of Deposits) Amendment Rules, 2019.
  14. What needs to be filed by the Corporate companies? 
    All outstanding receipts of money or loans that are taken by private companies from  April 1, 2014, to January 22, 2019, need to be submitted to RoC.
  15. What is the filing instruction? 
    According to the mandate, every company other than Government companies need to submit a one time return covering all outstanding receipts of money or loans that are taken.
  16. Do companies need to pay fees for filing the form? 
    Yes, fees are payable as per the Companies (Registration Offices and Fees) Rules, 2014 and it is paid depending on the paid up capital of the company.
  17. If a company has loans or receipts before April 1, 2014, and are outstanding, do they need to furnish the information? 
    Yes, any loan or receipt outstanding in the balance sheet needs to be furnished in Form DPT – 3.
  18. Are the Companies (Acceptance of Deposits) Amendment rules applicable for NBFCs? 
    As there is no specific mention about NBFCs so all the Companies (Acceptance of Deposits) Amendment rules are applicable and accordingly NBFCs need to file all outstanding receipts of money or loans that are taken to RoC.
  19. While filing receipts of money and loans​, do companies need to file information about Loans between Holding & Subsidiary, External Commercial Borrowing (ECB) and Secured/Unsecured Loans? 
    As no specific mention is there about the type of loan that needs to be filed to RoC, so information about each and every outstanding loan that a company has between April 1, 2014, to January 22, 2019, needs to be furnished in the DPT – 3 Form.
  20. Do the corporate companies have to submit all the outstanding receipts of money and loans​ that were taken by them during April 1, 2014, to January 22, 2019? 
    Yes, all corporate companies have to submit all the outstanding receipts of money and loans​ that were taken by them during April 1, 2014, to January 22, 2019, to RoC.
  21. Do companies need to file Return of Deposits to RoC every year? 
    Yes, companies other than Government companies need to submit a one-time return of outstanding receipts and loans to RoC every year through Form DPT – 3.

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Important Links

  1. Annual Return of Loans & Receipts Mandated by MCA
  2. 1.1 Million Companies To Submit Loans & Receipts to ROC
  3. Companies (Acceptance of Deposits) Amendment Rules, 2019
  4. MCA turns up the heat on India Inc; seeks an annual return on loans, other receipts
  5. Form DPT – 3
  6. Companies (Registration Offices and Fees) Rules, 2014
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