MCA Form DPT-4: Statement Regarding Deposits Existing on the Commencement of the Act

MCA Form DPT-4: Statement Regarding Deposits Existing on the Commencement of the Act. Purpose:
If a company accepted any deposits before the Companies Act, 2013 came into effect and those deposits or any interest on them remain unpaid when the Act commenced, the company must file a statement with these details in a web form called 'DPT-4'. This filing must be done within three months of the commencement date of the Companies Act, 2013. The purpose is to document and disclose any outstanding deposits and interest that were accepted before the new law took effect. This ensures transparency and compliance with regulatory requirements regarding old deposit liabilities.
Sections and Provisions:
Pursuant to Section 74(1) of the Companies Act, 2013 read with Rule 20 of the Companies (Acceptance of Deposits) rules, 2014.
Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due at any time thereafter, the company shall—
(a) File, within a period of three months from such commencement or from the date on which such payments, are due, with the Registrar a statement of all the deposits accepted by the company and sums remaining unpaid on such amount with the interest payable thereon along with the arrangements made for such repayment.
(b) Repay within three years from such commencement or on or before expiry of the period for which the deposits were accepted, whichever is earlier.
(2) The Tribunal may on an application made by the company, after considering the financial condition of the company, the amount of deposit or part thereof and the interest payable thereon and such other matters, allow further time as considered reasonable to the company to repay the deposit.
(3) If a company fails to repay the deposit or part thereof or any interest thereon within the time specified in sub-section (1) or such further time as may be allowed by the Tribunal under sub-section (2), the company shall, in addition to the payment of the amount of deposit or part thereof and the interest due, be punishable with fine which shall not be less than one crore rupees but which may extend to ten crore rupees and every officer of the company who is in default shall be punishable with imprisonment which may extend to seven years or with fine which shall not be less than twenty-five lakh rupees but which may extend to two crore rupees, or with both.
Key Information:
The form is available in the MCA version 3.
The Form DPT-4 shall be processed in STP mode and shall be recorded through electronic mode without any further processing.
Documents Required:

Auditor’s certificate

List of depositors

Timeline:
The Form DPT-4 shall be filed within 3 months of the commencement date of the Companies Act, 2013 (event date i.e. 1st April 2014).
Fees:

In case of company having share capital:

Nominal Share Capital

Fee applicable

Less than 1,00,000

Rupees 200

1,00,000 to 4,99,999

Rupees 300

5,00,000 to 24,99,999

Rupees 400

25,00,000 to 99,99,999

Rupees 500

1,00,00,000 or more

Rupees 600

In case of company not having share capital:200

Normal Fee applicable (INR)-200

Additional Fees in case of delay in filing of forms:

Period of delay

Additional fee payable (INR)

Up to 15 days

1 times of normal filing fees

More than 15 days and up to 30 days

2 times of normal filing fees

More than 30 days and up to 60 days

4 times of normal filing fees

More than 60 days and up to 90 days

6 times of normal filing fees

More than 90 days and up to 180 days

10 times of normal filing fees

More than 180 days

12 times of normal filing fees

Key Considerations:

Ensure that all particulars in the webform are correct. As there is no provision for resubmission of this webform.

On successful submission of Form No. DPT-4, SRN will be generated and shown to the user for future correspondence.

A challan will be generated depicting the details of the fees paid by the user to the Ministry. It is the acknowledgement to the user that the form has been filed.

MCA Help-Kit

Purpose:

If a company accepted any deposits before the Companies Act, 2013 came into effect and those deposits or any interest on them remain unpaid when the Act commenced, the company must file a statement with these details in a web form called 'DPT-4'. This filing must be done within three months of the commencement date of the Companies Act, 2013. The purpose is to document and disclose any outstanding deposits and interest that were accepted before the new law took effect. This ensures transparency and compliance with regulatory requirements regarding old deposit liabilities.

Sections and Provisions:

Pursuant to Section 74(1) of the Companies Act, 2013 read with Rule 20 of the Companies (Acceptance of Deposits) rules, 2014.

Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due at any time thereafter, the company shall—

(a) File, within a period of three months from such commencement or from the date on which such payments, are due, with the Registrar a statement of all the deposits accepted by the company and sums remaining unpaid on such amount with the interest payable thereon along with the arrangements made for such repayment.

(b) Repay within three years from such commencement or on or before expiry of the period for which the deposits were accepted, whichever is earlier.

(2) The Tribunal may on an application made by the company, after considering the financial condition of the company, the amount of deposit or part thereof and the interest payable thereon and such other matters, allow further time as considered reasonable to the company to repay the deposit.

(3) If a company fails to repay the deposit or part thereof or any interest thereon within the time specified in sub-section (1) or such further time as may be allowed by the Tribunal under sub-section (2), the company shall, in addition to the payment of the amount of deposit or part thereof and the interest due, be punishable with fine which shall not be less than one crore rupees but which may extend to ten crore rupees and every officer of the company who is in default shall be punishable with imprisonment which may extend to seven years or with fine which shall not be less than twenty-five lakh rupees but which may extend to two crore rupees, or with both.

Key Information:

The form is available in the MCA version 3.

The Form DPT-4 shall be processed in STP mode and shall be recorded through electronic mode without any further processing.

Documents Required:

Auditor’s certificate
List of depositors

Timeline:

The Form DPT-4 shall be filed within 3 months of the commencement date of the Companies Act, 2013 (event date i.e. 1st April 2014).

Fees:

In case of company having share capital:

Nominal Share Capital	Fee applicable
Less than 1,00,000	Rupees 200
1,00,000 to 4,99,999	Rupees 300
5,00,000 to 24,99,999	Rupees 400
25,00,000 to 99,99,999	Rupees 500
1,00,00,000 or more	Rupees 600

In case of company not having share capital:200

Normal Fee applicable (INR)-200

Additional Fees in case of delay in filing of forms:

Period of delay	Additional fee payable (INR)
Up to 15 days	1 times of normal filing fees
More than 15 days and up to 30 days	2 times of normal filing fees
More than 30 days and up to 60 days	4 times of normal filing fees
More than 60 days and up to 90 days	6 times of normal filing fees
More than 90 days and up to 180 days	10 times of normal filing fees
More than 180 days	12 times of normal filing fees

Key Considerations:

Ensure that all particulars in the webform are correct. As there is no provision for resubmission of this webform.
On successful submission of Form No. DPT-4, SRN will be generated and shown to the user for future correspondence.
A challan will be generated depicting the details of the fees paid by the user to the Ministry. It is the acknowledgement to the user that the form has been filed.

MCA Form DPT-4: Statement Regarding Deposits Existing on the Commencement of the Act

MCA Help-Kit

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