The National Stock Exchange (NSE) on March 27, 2023, issued a circular regarding the submission of the Half Yearly Net Worth Certificate as on March 31, 2023.
All Members of the Exchange are required to maintain minimum Net worth at all points in time and submit the Net-worth certificate on a half-yearly basis to the Exchange. With regard to the same, members are hereby advised to submit the Half Yearly Net Worth Certificate as on March 31, 2023, on ENIT by May 31, 2023.
Further, the members who have availed approval for offering margin trading facility have to submit the net worth certificate in the format prescribed for them on or before April 30, 2023. It may be noted that no additional time shall be provided for submission of the Networth certificate beyond the due dates mentioned above.
The members are requested to comply with the followings:
• For disciplinary actions in case of Net worth shortfall and non-submission of Net worth, refer to Exchange circular Ref no. NSE/COMP/47735 dated March 24, 2021.
• In case the reported Net worth is less than the minimum Net worth required or the reported Net worth has a variation of 25% or more as compared to the last reported half-yearly Net worth, members are required to mention the reason for the same when submitting the same on ENIT.
• In case of any shortfall in Net worth as on March 31, 2023, a revised Net worth certificate on a subsequent date meeting the minimum required Net worth shall be submitted along with the original Net worth certificate as on March 31, 2023, before the due date.
• Non-submission of the Net worth certificate within the due date or in case of any shortfall, failure to submit a revised Net worth certificate along with the original Net worth certificate as on March 31, 2023, shall result in the immediate withdrawal of trading rights/margin trading facility, as the case may be.
• For Net worth requirements, method of computation, and formats regarding Half-Yearly Net worth Submission, kindly refer to Annexure I.
[Circular No: 31/2023]
