Outline 

Transactions not considered as Deposits

Following tranactions are not considered as deposits

• Any amount received from the government or guaranteed by the government, foreign government/foreign Bank.
• Any amount received as a loan or facility from any Public Financial Institutions, Insurance Companies or Banks
• Any amount received from a company by a company.
• Subscription to securities and call in advance.
• Any amount received from the director of the company or a relative of the director of the Private company, who held the positions at the time of lending. 
• Any amount received by the company from an employee. 
• Any amount received in the course of, or for the purposes of, the business of the company as an advance for the supply of goods or provision of services or as a security deposit for the performance of the contract for the supply of goods or provision of services.
• Unsecured loans from promoters.
• Any other amount which is not considered as a deposit under Rule 2(1)(c).

Hence any amount whether secured or unsecured and which is outstanding money or loan not considered as deposits must be reported. 

Companies Not required filing the form DPT–3

There are certain companies which are not required to file the Form DPT–3. The list of the companies is as under;

• Banking companies
• Non-Banking Finance Companies (NBFC)
• Housing finance company registered with National Housing Bank
• Others as notified under proviso to subsection (1) to section 73 of the Act

Filing of DPT-3

DPT-3 may be of two varieties, as follows:

One-time Return
A one-time return is to be filed once for a period of time more than one assessment year for the amount received and amount outstanding.

Annual Return
An annual return is to be filed for each assessment year for the amount outstanding.

Documents required 

Following documets required to be submitted-

• Auditors certificate 
• Copy of Trust deed
• Deposit Insurance contract, wherever applicable and mentioned in the form
• Copy of instrument creating the charge
• List of depositors – List of deposits matured and cheque issued but not yet cleared to be shown separately 
• Details of liquid assets 
• Any other attachment

Consequences of non-filing 

If the company does not comply to the requirements of DPT 3 will face the following consequences 

Under Section 73– A penalty of minimum 1 crore or twice the amount of deposits whichever is lower,  which may extend to Rs. 10 crore
For every officer who is in default imprisonment up to 7 years and with a fine not less than Rs.25 lakhs which may extend to Rs. 2 crores. 

Under Rule 21-On the company and every officer in default a fine which may extend up to Rs.5000, and where the contravention is a continuing one, a fine of Rs. 500 for every day since the default.