Template Description
This board resolution for the Filing of DPT-3 is a vital document for companies to remain compliant with the Companies (Acceptance of Deposits) Rules, 2014. It is a 2-page MS Word document which is designed to guide companies through the statutory requirement of filing Form DPT-3 with the Ministry of Corporate Affairs (MCA). This template is particularly beneficial for companies, legal professionals, and company secretaries responsible for filing returns related to deposits or amounts not considered as deposits.
Understanding the Board Resolution for Filing of DPT-3
Terminologies:
1. DPT-3: A mandatory form that every company must file with the MCA to furnish details of loans or non-deposit receipts in compliance with Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014.
2. Board Resolution: An official decision passed by the company's board of directors during a meeting, formalizing key company actions.
Procedure for Filing DPT-3:
Convene Board Meeting:
The Board of Directors must convene a board meeting at the company’s registered office.
The meeting must comply with proper quorum requirements to pass the resolution.
Approval of the Statement:
A statement detailing loans received by the company that do not qualify as deposits, in accordance with Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014, should be presented to the Board.
The board must approve the statement as of 31st March for the relevant financial year (e.g., 31st March 2022).
Passing the Resolution:
The Board should pass a resolution approving the filing of Form DPT-3 for the financial year.
The resolution must authorize a company director to digitally sign and file the form with the MCA through its portal.
Digital Submission: Once the resolution is passed, the designated director or authorized individual must complete the DPT-3 form and upload it to the MCA portal using the company's digital signature certificate (DSC).
Resolution Certification: A certified true copy of the board resolution must be maintained for record-keeping and future reference.
Key Considerations:
Ensure accurate preparation of the loan statement under Rule 2(1)(c) before presenting it to the Board.
Assign a director or company officer with proper authority to digitally sign and submit the form to the MCA.
Confirm the timely submission of the DPT-3 form to avoid penalties for non-compliance.
The resolution should remain valid until a new one is passed for subsequent filings.
Conclusion
The Board Resolution for Filing DPT-3 ensures that a company is compliant with the Companies (Acceptance of Deposits) Rules, 2014, by reporting loans or non-deposit receipts. Proper approval and filing are crucial for maintaining statutory compliance, avoiding penalties, and ensuring the smooth operation of the company’s financial reporting obligations.