Rules 15 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
These rules cover what happens when a deposit is repaid early, the annual return of deposits in Form DPT-3, the notes a company must carry in its financial statements about money from directors and relatives, and the penal rate for matured deposits left unpaid. This article states them as amended up to G.S.R. 663(E) dated 29 August 2022 per the MCA e-book; later amendments should be checked.
If a depositor asks for repayment after six months but before maturity, the interest is reduced by one per cent, with two exceptions. Every company the rules apply to files Form DPT-3 on or before 30 June each year with information as on 31 March, audited, with the auditor's declaration; DPT-3 is also used for transactions not considered deposits. Companies disclose director and relative money in notes to the financial statements. Matured deposits claimed but unpaid carry eighteen per cent a year for the overdue period.
Rule 15: premature repayment
Where a company repays a deposit at the depositor's request after six months from the date of deposit but before the period for which it was accepted ends, the interest payable is reduced by one per cent from the rate the company would have paid had the deposit been accepted for the period it had actually run. The company must not pay interest at any rate higher than the reduced rate.
Rule 15 does not apply to early repayment made solely for:
- (a) complying with rule 3 (the period and limits rule; see our article on rule 3); or
- (b) providing war risk or other related benefits to the personnel of the naval, military or air forces or their families, on an application by associations or societies formed by such personnel, during an emergency declared under article 352 of the Constitution.
A second proviso deals with renewal: where a company under section 73(2) or an eligible company lets a depositor renew before maturity to get a higher rate of interest, the company pays the higher rate if the deposit is renewed in accordance with the other provisions of the rules and for a period longer than the unexpired period of the deposit.
The Explanation fixes how the period run is counted: if the period contains part of a year, a part of less than six months is excluded, and a part of six months or more is reckoned as one year. Example: a deposit that has run two years and seven months is counted as three years for the rate lookup; one that has run two years and four months is counted as two.
Rule 16: the DPT-3 return
Every company to which the rules apply shall, on or before the 30th day of June of every year, file with the Registrar a return in Form DPT-3, along with the fee as provided in the Companies (Registration Offices and Fees) Rules, 2014, and furnish the information in it as on the 31st day of March of that year, duly audited by the auditor of the company; a declaration to that effect is submitted by the auditor in Form DPT-3. The auditor's declaration was inserted by the Amendment Rules of 2022. For the fee, see our article on filing fees and additional fees; this article quotes no fee.
The Explanation, inserted on 22 January 2019, says DPT-3 shall be used for filing a return of deposit, or particulars of a transaction not considered a deposit, or both, by every company other than a Government company. In other words, a company with no deposits but with loans that are exempt under rule 2 (such as money from directors) still files DPT-3 for those transactions. See our guides on DPT-3 filing in 2026 and DPT-3 for a loan from a shareholder, and our DPT-3 return of deposits service for the filing itself.
Rule 16A: disclosures and the one-time return
| Sub-rule | Requirement |
|---|---|
| (1) | Every company other than a private company discloses in its financial statement, by way of notes, the money received from the director. |
| (2) | Every private company discloses in its financial statement, by way of notes, the money received from the directors or relatives of directors. |
| (3) | A one-time return: every company other than a Government company was to file a one-time return of outstanding receipt of money or loan not considered a deposit under rule 2(1)(c), for the period from 1 April 2014 to 31 March 2019, in Form DPT-3 within ninety days from 31 March 2019, with fee. |
Sub-rules (1) and (2) were inserted on 29 June 2016. Sub-rule (3), inserted on 22 January 2019 and re-dated on 30 April 2019, is history: the ninety days ended long ago, and it is relevant only to old records. The disclosures in (1) and (2) are separate from the Board's report disclosure required under rule 2(1)(c)(viii) for director and relative money; see part 2 of our rule 2 article.
Rule 17: penal rate of interest
Every company shall pay a penal rate of interest of eighteen per cent per annum for the overdue period in the case of deposits, whether secured or unsecured, matured and claimed but remaining unpaid. Two conditions must both be met for the rate to bite: the deposit has matured, and the depositor has claimed it. The rule does not say how the claim is made or recorded, so companies should log the date of each claim on the register of deposits kept under rule 14, which is covered in our article on rules 11 to 14.
Example
Riverside Packaging Private Limited has a deposit from a member that has run two years and seven months of a five-year term when the member asks for early repayment. Rule 15 allows interest at the rate for three years of running, less one per cent. Another deposit matured in January and the depositor claimed it in February; it is unpaid in June. The company pays eighteen per cent a year for the overdue period. On 30 June it files DPT-3, with the data as on 31 March audited, and the auditor's declaration. Its notes to the accounts show money received from directors and relatives.
Need help with DPT-3 and deposit disclosures?
DPT-3 covers both deposits and exempt receipts, and the figures must tie to the audited balance sheet. For help with the return, see our DPT-3 return of deposits service.
Key takeaways
- Early repayment after six months but before maturity reduces the rate by one per cent; two exceptions apply.
- DPT-3 is due on or before 30 June, with data as on 31 March, audited, with the auditor's declaration.
- DPT-3 also reports transactions not considered deposits; Government companies are outside the Explanation.
- Notes to the financial statements disclose director money (and, for a private company, relatives' money).
- Matured and claimed deposits left unpaid carry eighteen per cent a year for the overdue period.
Read next
- Rules 11–14: nomination, receipts, repayment reserve and registers
- Rules 18–22: eligible companies, penalty and forms
- DPT-3 return of deposits: complete filing guide 2026
- Sections 74 and 75: repayment of old deposits
Disclaimer: Based on the Companies Act, 2013 rules named above as consolidated in the MCA e-book (consulted on 3 October 2026), with the later notifications the article names. Later amendments, fees, forms and the Companies Act, 2013 provisions referred to should be checked. This article is general information, not legal advice; check the official text before acting.