What documents required to be file in DPT 3
Copy of trust deed
Copy of instrument creating the charge
Auditors certificate
List of depositors (Deposit Matured & Cheque issued but not yet cleared)
Liquid asset details
latest balance sheet
Further The particulars to be furnished are CIN of the company, email ID, Objects of the company, Net worth of the company, particulars of charge if any, the total amount outstanding as on 31st March 2022, and particulars of credit rating.
What transaction not considered as deposit?
Any amount received from the government or guaranteed by the government, foreign government/foreign bank.
Any amount received as a loan or facility from any Public Financial Institutions, Insurance Companies or Banks
Any amount received from a company by a company.
Subscription to securities and call in advance.
Any amount received from the director of the company or a relative of the director of the Private company, who held the positions at the time of lending.
Any amount received by the company from an employee, not exceeding his annual salary under the employee contract such as non-interest bearing security deposit.
Any amount received in the course of, or for the purposes of, the business of the company as an advance for the supply of goods or provision of services or as a security deposit for the performance of the contract for the supply of goods or provision of services.
Receipt of Rs 25 lakh or more by a startup company in the form of a convertible note, in a single tranche.
Amount raised by the issuing secured bonds or debentures with first charge, non-convertible debentures not having a charge on the assets of the company.
Unsecured loans from promoters.
Any amount received by the company from Nidhi Company or by way of subscription in respect of chit under the Chit Funds Act, 1982.
Any amount received by the company from a collective investment scheme, alternate investment funds or mutual funds registered with SEBI.
Any other amount which is not considered as a deposit under Rule 2(1)(c).
Hence any amount whether secured or unsecured and which is outstanding money or loan not considered as deposits must be reported.
Tenure of Return
The one-time return has to be filed for a period starting from 1st April 2014 to 31st March 2019. Therefore, all receipts received in this period and outstanding as on 31st March 2019 had to be reported. The annual return is for the period 1st April 2019 to 31st March 2020. This return will include all amounts outstanding as on date.
Consequence of non filling
The company who does not adhere to the requirements of DPT-3 and keeps accepting deposits then it will face the following consequences:
A penalty of minimum 1 crore or twice the amount of deposits whichever is lower, which may extend to Rs. 10 crore
For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.25 lakhs which may extend to Rs.2 crores.
On the company and every officer in default a fine which may extend up to Rs.5,000, and where the contravention is a continuing one, a fine of Rs.500 for every day since the default.