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.
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”.
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.
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.
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