REGISTER AND RETURN UNDER DEPOSIT RULES

In this post we will discuss, Registers required to be maintained and Returns required to be filed under the Companies (Acceptance of Deposit) Rules 2014.

REGISTERS OF DEPOSITS [Rules 14]:

Every company accepting deposits shall maintain at its registered office one or more separate registers for deposits accepted or renewed, in which there shall be entered separately in the case of each depositor the following particulars, namely:-

(a) name, address and PAN of the depositor/s;

(b) particulars of guardian, in case of a minor;

(c) particulars of the nominee;

(d) deposit receipt number;

(e) date and the amount of each deposit;

(f) duration of the deposit and the date on which each deposit is repayable;

(g) rate of interest or such deposits to be payable to the depositor;

(h) due date for payment of interest;

(i) mandate and instructions for payment of interest and for non-deduction of tax at source, if any;

(j) date or dates on which the payment of interest shall be made;

(k) details of deposit insurance including extent of deposit insurance;

(l) particulars of security or charge created for repayment of deposits;

(m) any other relevant particulars;

The entries shall be made within seven days from the date of issuance of the receipt duly authenticated by a director or secretary of the company or by any other officer authorised by the Board for this purpose.

The register shall be preserved in good order for a period of not less than eight years from the financial year in which the latest entry is made in the register.

RETURN OF DEPOSITS TO BE FILED WITH THE REGISTRAR [Rule 16]:

Every company to which these rules apply, shall on or before the 30th day of June, of every year, file with the Registrar, a return in Form DPT – 3 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and furnish the information contained therein as on the 31st day of March of that year duly audited by the auditor of the company.

STATEMENT REGARDING DEPOSITS EXISTING AS ON THE DATE OF COMMENCEMENT OF THE ACT [Rule 20]:

For the purposes of clause (a) of sub-section (1) of section 74, the statement shall be in Form DPT – 4.

 DPT – 3:

Prominent points under this forms are:

Details of Advertisement –

(a) Date of issue of advertisement or circular:

(b) Date of last closing of accounts:

(c) Date of expiry of validity of advertisement or circular

Net Worth as per the latest audited balance sheet preceding the date of the return –

(a)    Details  of Fund:

(i) Paid up share capital

(ii) Free reserves

(b)   Loss or Expenditure:

 (i) Accumulated loss

(ii) Balance of deferred revenue expenditure

(iii) Accumulated unprovided depreciation

(iv) Miscellaneous expense and preliminary expenses

(v) Other intangible assets

(c) Net worth (a-b)

(d) Maximum limit of deposits (i.e, 35% of the above in case of Government Company or 25% in case of others)

Particulars of deposits(to be furnished in respect of deposits from shareholders and others separately)

(a) Amount of existing deposits as at 1st April

(b) Amount of deposits accepted or renewed during the year

(a) Secured deposits

(b) Unsecured deposits

(c) Amount of deposits repaid during the year

(d) Balance of deposits outstanding at the end of the year (a+b-c)

Details of outstanding deposits:

(a)  Particulars

(b)Date of Receipt of deposit

(c)  Rate of Interest

(d)  Repayable date

Unclaimed Deposits:

(a) Amount of deposits that have matured but not claimed:

(b) Amount of deposits that have matured and claimed but not paid:

Particulars of liquid assets

(a) Amount of deposits maturing before 31st March next year and following next year:

(b) Amount required to be invested in liquid assets:

(c) Details of liquid assets-

Particular of Deposit Insurance

Particular of Charge

 

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