"Section 74. (1) 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, notwithstanding
anything contained in any other law for the time being in force or under the terms and
conditions subject to which the deposit was accepted or any scheme framed under
any law; and
(b) repay within one year from such commencement or from the date on which
such payments are due, whichever is earlier."
SECTION CLEARLY STATES THAT RETURN OF DEPOSIT (DPT-4) SHALL BE FILED WITHIN 3 MONTHS FROM COMMENCEMENT OF ACT OR 3 MONTHS FROM THE DATE ON WHICH SUCH PAYMENTS ARE DUE. IT MEANS IF THERE ARE LONG TERM BORROWING WHICH ARE NOT STILL DUE, RETURN OF DEPOSIT NEED NOT BE FILED. IN OTHER WORDS, IF WE ASSUME THAT THESE PAYMENTS ARE DUE ON 31-03-2015 DUE TO COMMENCEMENT OF NEW ACT, RETURN OF DEPOSIT SHALL BE FILED TILL 30-06-2015.
PL. GIVE EXPERT COMMENTS.
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