Introduction:
The Ministry of Corporate Affairs vide a notification bearing No. G.S.R. 42(E) dated 22nd January 2019 (“Notification) has amended the Companies (Acceptance of Deposits) Rules, 2014 with an objective to further enhance the transparency, disclosure to the stakeholders and improve corporate governance.
Applicability:
To all Companies (Public, Private, OPC, etc.) other than Government companies, which have any outstanding receipts of money or loans (secured or unsecured) which are not considered as deposits as per Rule 2(1) (c) of the Companies (Acceptance of Deposits) Rules, 2014, concerning the period between 1st April 2014 to 22nd January 2019 (date of publication of the Notification).
Compliance:
Every company as stated above shall be required to file a one-time return in Form DPT – 3 within 90 (ninety) days from the date of publication of the Notification i.e. by 22ªd April 2019.
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