Companies (Acceptance of Deposits) Amendment Rules, 2019


Dear Professional Colleague,                                     

 

Subject:  Companies (Acceptance of Deposits) Amendment Rules, 2019

 

As you are aware that the MCA has notified the Companies (Acceptance of Deposits) Amendment Rules, 2019 (hereinafter referred to as the ‘Amendment Rules’) on 22nd January, 2019 to amend the Companies (Acceptance of Deposits) Rules, 2014 (hereinafter referred to as ‘Deposit Rules’).

 

As per the aforesaid notification:

 

  • Any amount received from the Real Estate Investment Trusts registered with the Securities and Exchange Board of India does not get covered in the definition of Deposit under the Deposit rules.

 

  • In terms of the explanation inserted in rule 16, the form DPT-3 shall be used for:

 

  • Filing return of deposit (to furnish information on deposits as on 31st March of every financial year, which needs to be submitted on or before 30th June of every year; or

 

  • Filing of particulars of transaction not considered as deposit by every company other than Government company to furnish particulars of transaction not considered as deposit;

OR

  • Both of the above.

 

  • Insertion of sub - rule 3 in Rule 16A

 

The rule provides that “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.".

 

We request you to take note of the additional compliance required under the Amendment Rules and In case of any queries and concerns, you may write to us at companiesact2013@icsi.edu.

 

Regards,

 

(CS Ashok Kumar Dixit)

Officiating Secretary, ICSI


Write a Comment