Category Archives: Chapter V – CA2013

ACCEPTANCE OF DEPOSITS BY COMPANIES

Return of Loans, Deposits and a “not Deposits”


This is the continuation of earlier post written here. Now, the Ministry of Corporate Affairs deployed the updated Form DPT – 3 which is nodal form to file the return of deposits and “not deposits”.

In this post, we will analyse the updated Form DPT – 3 and try to solve the mystery what where and when to report in the return.

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Return of Loans, Deposits and a “not a Deposits”


After the recent amendment dated 22nd January 2019, Form DPT – 3 which has its legal name as “Return of Deposit” shall be used for filing return of deposit or particulars of a transaction not considered as deposit or both. It includes Loan but excludes capital and day to day business receipts. We will discuss seriously latest amendment in these “no longer only the Deposits Rules, 2014”.

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Circular Inviting Deposit


The Companies (Acceptance of Deposits) Amendment Rules, 2018 amended the Principal Rules the Companies (Acceptance of Deposits) Rules, 2014 with effect from 15th August 2018. These amendment rules indicate government acceptance of no availability of a product called deposit insurance deposits accepted by companies. This also indicates that corporate deposits are the most humble and vulnerable class of small investors. In this post, we will discuss, advertisement or circular required to be issued for inviting public deposits by the companies.

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Unlimited Deposits for certain companies


Ministry of Corporate Affairs amended the Companies (Acceptance of Deposits) Rules, 2014 recently. The Companies (Acceptance of Deposits) 2nd Amendment Rules, 2017, was published and come into force on 20th September 2017. These amendment permit, in case of specified private companies, to accept deposit without any maximum limits.

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Recent Amendments in Deposit Rules


Ministry of Corporate Affairs came with amendment to the Companies (Acceptance of Deposits) Rules, 2014, last month. These rules has been published in official gazette on 29th June 2016 and came into force on that date. In this post, we will discuss these amendments. Continue reading

2nd Amendment 2015: Deposits Rules


Ministry of Corporate Affairs placed on its web site a DRAFT notification on 15th September 2015 which proposed the Companies (Acceptance of Deposits) Second Amendment Rules, 2015.

These rules shall come into force form the date of their publication in the Official Gazette.

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AMENDMENT 2015: DEPOSIT RULE


Ministry of Corporate Affairs came with an amendment to the Companies (Acceptance of Deposits) Rules 2014. This is second amendment to these rules but first amendment for this year. Present amendment includes:

  1. Deadline for allotment of long pending share application money;
  2. Introduction of credit rating for deposits;
  3. Postponement of Deposit insurance; and
  4. Substitution of Form DPT – 3.

Deadline for Allotment:

As we have discussed earlier here, Rule 2(1)(c) define deposit giving exclusions from deposits. Clause (vii) of Rule 2(1)(c) excludes share/security application money pending allotment from the definition of deposits. Presently, Explanation (a) to Rule 2(1)(c)(vii) mandate of share application money within 15 days unless allotted within 60 days from the date of receipt.

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