Funds are the most important part for running a business. The Companies borrow funds from various sources like Banks, Financial Institutions, other Body Corporate Members, Director or Stake Holders etc. These funds are further classified into two parts viz Owned Capital and Borrowed capital or Borrowings.
Owned capital comprises of funds collected by issuing shares to the general public. Whereas the borrowed capital is collected by issuing Bonds, Debentures, Deposits, or by taking a loan from Bank, Financial Institutions, Directors etc.
Deposit is a type of short term borrowed capital raised by the company to meet its short term working requirements. It is an acknowledgement of receipt of money as a loan or in any other form.
Section 2(31) of the Companies Act defines deposit as under “deposit” includes any receipt of money by way of depositor loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of India.
Following Categories of Borrowings are not considered as Deposits :-
- Any amount received from the Central or State Government.
- Any amount received from Foreign Government, Foreign Banks, multilateral financial institutions, foreign companies, foreign citizens, etc. (subject to FEMA regulations)
- Any amount received as loans from foreign Banks in India.
- Any amount received from Directors of the Company.
- Any amount received as loans from Public Financial Institutions in India.
- Any amount received from issuing commercial papers or any other money market instruments (RBI regulated):
- Any amount received from other company, i.e. inter – corporate deposits.
- Any amount received in accordance to a public issue, towards application/ allotment money etc.
- Any amount brought in by the promoters of the company.
- Any advance received from agents/customers/suppliers in normal course of the business, however if such advance is not adjusted against the goods/services within 365 days, such advance will be deemed to be deposit.
- Any amount => Rs. 25 lakhsby a startup company through convertible instruments
- Amount received under SEBI registered schemes such as CIS (Collective Investment Scheme), AIF (Alternate Investment Fund), Domestic Venture Capital Funds
- Any other sources as notified by the Governments or the regulatory bodies.
Maximum Quantum for acceptance of Deposits
| Type of Company | Deposit from Members | Deposit from Public |
| Eligible company | Upto 10% of the aggregate paid – up capital. | Upto 25% of the aggregate paid-up capital. |
| Public Company u/s 73(2) | Up to 35% of the aggregate paid up Capital | Not allowed. |
| Government Company | Not allowed | Up to 35% of the aggregate paid-up capital |
| Private Company | Up to 100% of the aggregate paid-up Capital | Not allowed |
An Eligible Company is a Company which satisfies the following Conditions –
- It is a public limited company
- It has a net-worth of Rs 100 crore or more or a turnover of rs 500 crores or more
- It has obtained the prior concept of the company in general meeting by means of special resolution.
- Filed the said resolution with the Registrar of Companies and RBI (if applicable)
An Eligible company is required to create charge on asset within 30 days of acceptance of the deposits.
Return of deposits to be filed with the Registrar
Every company shall file a return with the Registrar of Companies (ROC) in form DPT-3. The return shall furnish the information contained therein as on 31st March of that year duly audited by the auditor of the company.
Following Companies are required to file the form DPT- 3
- Private Limited Company
- Public Limited Company
- One Person Company
- Section 8 company
- Small Company
Government companies, Banking Companies, and Non-Banking Financial Companies are not required to file form DPT-3
Types of returns that can be filed under form DPT3
| I | One time return under rule 16A |
| II | Return of deposit |
| III | Transaction not considered as deposits |
| IV | Return of Deposit and Particulars of transactions by a company not considered as deposit |
- One time return under rule 16A:- This is the category under which details about those borrowings will be given which are not considered as Deposits under sec 73 of the Companies Act, 2013. One time disclosure of details of outstanding money or loan received by a company but not considered as deposits.
- Return of deposit :- An annual return in Form DPT-3 shall be filed as return of deposit or particulars of transaction not considered as deposit or both and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.
Particulars of filing Return of Deposit under form DPT-3
(i) Date of issue of advertisement or circular
(ii) Date of last closing of accounts
(iii) Date of expiry of validity of advertisement or circular
(iv) Maximum limit of deposits (i.e. 35% of the above in case of all companies other than specified IFSC public companies and private companies)
(v) Total number of deposit holders as on 1st April
(vi) Total number of deposit holders at the end of financial year
(vii) Particulars of deposits (In Rupees)
(a) Amount of existing deposits as on 1st April
(b) Amount of deposits renewed during the year
(c) Amount of deposits accepted during the year (secured/unsecured)
(d) Amount of deposits repaid during the year
(e) Balance of deposits outstanding at the end of the year
(viii) Amount of deposits that have matured but not claimed
(ix) Amount of deposits that have matured and claimed but not paid
(x) Particulars of liquid assets :- (a) Amount of deposits maturing on or before 31st March next year and following next year
(b) Amount required to be invested in liquid assets
(c) Details of liquid assets
(xi) List of depositors – List of deposits matured, Cheque issued but not yet cleared to be shown separately – Mandatory if company has balance of deposits outstanding at the end of the year.
- Transaction not considered as deposits :Particulars of transactions by a company not considered as deposit as per rule 2(1)(c) of the Companies (Acceptance of Deposit) Rules, 2014.This return shall give the information regarding those amounts that are received by the company which are not considered as Deposits under the Companies Act, 2013
- Return of Deposit and Particulars of transactions by a company not considered as deposit
The return shall provide the information about both the particulars of deposits as well as amoutns not considered as deposits
General requirements for the form
- Basic Information of the Company – Name of the company, address, CIN, Contact, etc.
- Object of the Company – Must match with the one which is pre-filed.
- Net worth of the company as per the latest audited Balance sheet of the company.
- Particulars of charge if any :- If any charge or any kind of trust is created against the said borrowing details of such charge should be provided i.e. Date of creation of such charge, value of the property, details of the property etc.
- Auditor Certificate :- Where the purpose of the form is One time return, Auditor certificate is not required.
- The form should be digitally signed by
- Director or
- Manager or
- Company secretary or
- CEO (Chef Executive officer) or
- CFO (Chief Financial Officer)
Due Date of Filing Form DPT – 3
- Due Date of filing annual return as per Rule 16 – On or Before 30th June of the preceding financial year.
- Due Date of filing one time return as per rule 16 A – On or Before 29th of the preceding financial year.
Penalty for Contravention
Not filing of form DPT-3 within the stipulated time period and as per the regulations shall attract a penalty of Rs. 5000 and Rs. 500 per day in case of continuing the default, on the company and its officers in default.
Kartik M Jain & Associates is a Chartered Accountancy firm catering to Domestic as well as international clients. We have been providing advisory, regulatory and compliance related services in the areas of Direct and Indirect Taxation, International Taxation, Auditing, and Assurance and cross border transactions related services.
Kartik M Jain & Associates, CA in Pune is a professionally managed firm serving domestic and international clients providing services relating to direct and international taxation, indirect taxation, auditing and assurance and Consultancy. It is amongst the best CA firms in Pune. Our sister Firm, Payal K Jain & Associates, a Company Secretary in Pune provides services in relation to Company Formation in Pune and across India, Corporate Law and Compliance, ROC filings, FEMA, Trademark Registration, etc.
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