The Ministry of Corporate Affairs is adding new compliances to ensure that the companies are functioning within the law. On 22nd January, 2019 MCA had introduced a new mandate of filing form DPT-3 for every company except for government companies.
Basically, this form is to be filed by every company accepting deposits from the public. MCA amended the Companies (Acceptance of Deposit) Rules, 2014 and inserted the filing of one-time return in form DPT-3 for outstanding receipt of money or loan other than deposits. Any company other than Government Company which has outstanding receipt of money or loan but not considered as deposits as per the Companies Rules has to file a one-time return for a period from 01st April, 2014 to 31st March, 2019.
Points to be considered
As per the first notification, the form needs to be filed within 90 days from the date of notification (from 22nd January, 2019). And the period of filing was from 1st April 2014 to the date of notification i.e. 22nd January, 2019. But due to non-availability of the form on MCA portal, the due date was extended by MCA circular which was 30 days from the availability of the form on MCA portal.
The said form is available on portal from 01st May, 2019. And MCA again notified that the form must be filed within 90 days from 31st March, 2019. It is very important for companies to comply with all the laws and the amendments to avoid hefty penalties levied by the MCA and other regulators.