The Central Depository Services (India) Limited (CDSL) on June 28, 2024, issued a notification regarding the submission of a Net Worth Certificate and Audited Financial Statements.
The following has been stated: -
•In terms of CDSL Bye Law 16.2.1, each Depository Participant (DP) is required to submit a net worth certificate (including computation thereof based on its audited financial statements certified by a practicing Chartered Accountant, calculated and itemized as per the manner specified in the Operating Instructions) and a copy of the audited financial statements along with the auditors’ report.
•Then it shall be submitted no later than October 31st of the next financial year. Accordingly, all DPs with a financial year ending on March 31, 2024, should submit a net worth certificate along with audited financial statements (AFS) on or before October 31, 2024.
•Deferred tax assets, Computer software, etc. are not deducted as intangible assets for net worth computation.
The detailed notification is given in the document below.
[Notification No. CDSL/A, I&C/DP/POLICY/2024/356]
