MCA vide its notification dated 22nd January 2019 notified that every company other than a government company must file a one time return in DPT 3. It is also required to be filed annually.

Accordingly, a sub-rule (3) was inserted after sub-rule (2) in Rule 16A of the Companies (Acceptance of Deposits) Rules, 2014 which reads as follows:
“Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to 31st March, 2019, as specified in Form DPT-3 within “ninety days from 31st March, 2019” along with a fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.

Who is exempt from filing the return?

Every company except a government company must file this return. Additionally, as per Rule 1(3) of the Companies (Acceptance of Deposits) Rules 2014, the following companies are also exempt:
1. Banking company
2. Non-Banking Financial Company
3. A housing finance company registered with National Housing Bank
4. Any other company as notified under proviso to subsection (1) to section 73 of the Act

Filing of DPT 3

DPT-3 may be of two varieties, as follows:
1. One-time return
2. Annual return

Transactions not considered as deposits

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 transaction.

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.

The due date for filing

The due date for filing the annual return is 30th June of every year. For example, for FY 2019-20, the due date for DPT-03 is 30th June 2020.

Information to be furnished

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 2020, and particulars of credit rating.

Documents to be submitted

Auditors certificate
Copy of Trust deed
Deposit Insurance contract, wherever applicable and mentioned in the form
Copy of instrument creating the charge
List of depositors – List of deposits matured and cheque issued but not yet cleared to be shown separately
Details of liquid assets
Optional attachment

Filing fees
Fees shall be payable as per the Companies (Registration Offices and Fees) Rules.

Consequences of non-filing
If the company does not adhere to the requirements of DPT-3 and keeps accepting deposits. then it will face the following consequences.

Under Section 73
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.

Under Rule 21
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.

There is no established view, if a NIL return must be filed, however, it is always beneficial to take the conservative approach and file a NIL return.