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Companies (Acceptance of Deposits) Rules, 2014

Companies (Acceptance of Deposits) Rules, 2014

Ministry of Corporate Affairs (MCA) in consultation of Reserve Bank of India Makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 2014


                                                       Image Via : E Startup

These Rules may be called : Companies (Acceptance of Deposits) Amendment Rules, 2019

 Came into force : 22nd January 2019

Before go through the amendment, you must known the definition of Deposits as per Rule 2(1)(C) of Companies (Acceptance of Deposits) Rules, 2014 which is "Deposit" includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include -

  • Any Amount from Government (Indian or foreign)
  • Loan from banking Co.
  • Inter Co. Loan 
  • Bonds and Debentures 
  • Amount accepted by Chit Fund Companies etc

Amendments (Click here to get PDF)

 First In Rule 2(1)(c) after the word “Infrastructure Investment Trusts,” the words “Real Estate Investment Trusts” shall be inserted.

 Secondly In rule 16, the following Explanation shall be inserted, namely:-

“Explanation.- It is hereby clarified that Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company.”

Third (Most Important)  In rule 16(A), after sub-rule (2), the following sub-rule shall be inserted, namely:-

“(3) Every company other than Government company shall file a onetime return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 to the date of publication of this notification in the Official Gazette, as specified in Form DPT-3 within ninety days from the date of said publication of this notification along with fee as provided in the Companies (Registration Offices and Fees) Rules, 2014.”.

Crux : Every type of Company either Private, Public, Listed Unlisted other than the Government Company, shall file the one time return of outstanding receipt of money or loan which not considered as deposits as per Deposit Rules within 90 Days i.e till 22nd April 2019.

Understanding the Effect of Amendment in Tabular Format
Relevant Amendment
Applicable to
Type of Return
Due Date
Explanation to rule 16
Every company other than Government Company
Return of deposit or particulars of the transactions not considered as a deposit or both
On or before 30th June of the preceding year.
Insertion of rule 16A (3)
Every company other than Government Company
One time return of outstanding receipt of money or loan by a company which is not considered as deposits as per rule 2 (1) (c)
On or before 22nd April 2019.
  

By : Orporate

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