Ministry of Corporate Affairs has released Companies (Acceptance of Deposits) Amendment Rules, 2019 on 22nd January, 2019.
Following important amendments have been brought:
I. Insertion of words “Real Estate Investment Trusts” after “Infrastructure Investment Trusts,” in Rule 2(I), clause (c)(xviii)-
It mean that Real Estate Investment Trusts will not come under the definition of Deposit.
II. Insertion of Explanation in Rule 16-
“Explanation.- It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.”
As per Rule 16, annual return in Form DPT-3 has to be filed by every company to which these rules apply, on or before the 30th day of June. The explanation clarifies that details of all transactions not considered as deposit, shall also be filed in DPT-3. All companies except government company, are now required to file DPT-3 on 30th June.
III. Insertion of Sub-rule (3) in Rule 16A
“(3) 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 the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.”
Every Company is required to file DPT-3 furnishing details regarding all Outstanding Loan and Receipt of money in Company as on 22nd January, 2019. Form is required to be filed before 22nd April, 2019 for the period starting from 1st April, 2014 to 22nd January, 2019.
IV. Substitution of Form DPT-3
New Form has been annexed to the Rules.
Click here for the notification.
