How to file DPT-3 in case of Loan from shareholder?



Quick Summary
This article explains how private and public limited companies should file the DPT-3 form when they have received loans from shareholders. While loans from shareholders are generally considered deposits, specific exemption notifications allow private limited companies to accept these loans without adhering to all provisions of Section 73 of the Companies Act, 2013. However, these loans must still be reported as deposits.

Summary

In this editorial author going to discuss how to file DPT-3 form when a Private Limited/ Public Limited Company having loan from shareholders (HUF, Trust, Individual etc.)

As per exemption notification dated 05th June 2015 and 13th June 2017, Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of Companies Act, 2013.

Filing DPT-3 for Shareholder Loans: A Guide

Point of Editorial

Where to mention loan from shareholder in e-form DPT-3?

As e-form DPT-3 divided under four remote buttons:

i. Onetime Return for disclosure of details of outstanding money or loan received by a company but not considered as deposits in terms of rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules,
2014

ii. Return of Deposit

iii. Particulars of transactions by a company not considered as deposit as per rule 2 (1) (c) of the Companies (Acceptance of Deposit) Rules, 2014

iv. Return of Deposit and Particulars of transactions by a company not considered as deposit

Deposit: As per definition of deposit, it is not mentioned anywhere that companies can accept loan from shareholder. However, if a company (private or public) accept loan from shareholder it shall be considered as Deposit and required to comply with compliances mentioned under Section 73 of Companies Act, 2013.

Exemption Notification: Due to exemption notifications to Private Limited Company, if private company accept loan from shareholders, they don't require to comply with provisions of Section 73(2)(a) to (e).

Loan from shareholder as Deposit: However, after these notifications private companies can accept loan from shareholders. But this loan shall be considered as Deposit Only.

In other words, we can say, loan from shareholder shall be considered as allowable deposit for private limited company.

 

Conclusion

As loan from shareholder shall be considered as deposit even for private limited Companies.

 

Therefore, if companies having loan from shareholders as on March 31, they have to select remote button no. 2 i.e. 'Return of Deposit' to show this amount.

One can opine that to show loan from shareholder Company always will select Remote Button No. 2 or Remote Button no. 4.

FAQ :

The DPT-3 form is used to disclose details of outstanding money or loans received by a company that are not considered deposits under the Companies (Acceptance of Deposits) Rules, 2014, or to report actual deposits.

Yes, according to the definition, loans from shareholders are considered deposits and require compliance with Section 73 of the Companies Act, 2013.

Yes, due to exemption notifications, private limited companies accepting loans from shareholders do not need to comply with specific sub-clauses (a) to (e) of Section 73(2) of the Companies Act, 2013.

Companies with loans from shareholders as of March 31st must select remote button number 2, 'Return of Deposit', or potentially remote button number 4, 'Return of Deposit and Particulars of transactions by a company not considered as deposit'.

The article implies that public limited companies, like private ones, must consider loans from shareholders as deposits and comply with relevant regulations, though specific exemptions mentioned apply to private companies.


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About the Author

Practicing Compnay Secretary

CAREER PROFILE He is a Fellow Member of the Institute of Companies Secretaries of India having intense expertise in Corporate Law for the last 8 years. He is a young and progressive Practicing Company Secretary with zeal to dig deep into the nuances of Corporate Laws. Being a researcher at heart, he has done ... Read more


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