About Certificate : Net worth is used as an indicator of financial health in various processes. Net worth certificate is a document that is compiled and certified usually by a Chartered Accountant taking into consideration all the assets and liabilities of the individual or Enterprise.
"A Wealthy Person is simply someone who has learned HOW TO MAKE MONEY when they're NOT WORKING"
As per Schedule VI of SEBI
__________________________________________________________________________________
Annexure 1
Format of Networth Certificate
(To be provided on the Letterhead of the
certifying Chartered Accountant/ Company Secretary)
CERTIFICATE
This is to certify that the Networth
of M/s.______________________ (Name of Member) as on _____________as per the
statement of computation of even date annexed to this report is
USD___________/- (in words USD ______________ only) #.
We
further certify that:
·
M/s._________________ (Name of Trading
Member) is not engaged in any fund-based activities or business other than that
of securities. Existing fund based assets, if any, have been divested from the
books of account and have not been included for the purpose of calculation of
networth*.
- The
computation of networth based on my/our scrutiny of the books of accounts,
records and documents is true and correct to the best of my/our knowledge
and as per information provided to my/our satisfaction.
·
The computation of net worth is in
accordance with the method of computation prescribed by Schedule VI of SEBI
(Stock Brokers and Sub Brokers) (Second Amendment) Regulations, 2013/the method
of computation prescribed by Dr. L C Gupta Committee Report.
Place: For (Name of Certifying Firm)
Date: Name of Partner/Proprietor
CA/CSMembership Number
Firm Registration No.
# The
USD - INR reference rate published by Reserve Bank of India (RBI) as on _______
(Networth date) is 1USD = Rs._______ is considered for calculation of Networth
as on ____________(Networth date).
*If not applicable/non-compliant, confirmation to that effect
should be clearly mentioned in the Networth certificate along with
justifications.
Annexure-2
Method
of computation of Networth as per Schedule VI of SEBI (Stock Brokers and Sub
Brokers) (Second Amendment) Regulations, 2013/Dr. L.C. Gupta Committee Report.
Computation
of Networth as on_________________
|
Name of The Applicant: |
|||||
|
Sr. No. |
Particulars |
USD (Sub-Total) |
USD (Total) |
INR (Sub-Total) |
INR (Total) |
|
1 |
Paid-up Capital |
00 |
|
00 |
|
|
2 |
Free Reserve |
00 |
|
00 |
|
|
3 |
TOTAL (1+2) |
|
00 |
|
00 |
|
4 |
Non Allowable
Assets |
|
|
|
|
|
|
a) Fixed
Assets |
00 |
|
00 |
|
|
|
b) Pledged Securities |
00 |
|
00 |
|
|
|
c)
Member’s Card
|
00 |
|
00 |
|
|
|
d)
Non-allowable
securities (unlisted securities) |
00 |
|
00 |
|
|
|
e)
Bad
deliveries |
00 |
|
00 |
|
|
|
f)
Doubtful
Debts and Advances* |
00 |
|
00 |
|
|
|
g)
Prepaid
expenses, losses |
00 |
|
00 |
|
|
|
h)
Intangible
Assets |
00 |
|
00 |
|
|
|
i)
30% of Marketable
securities |
00 |
|
00 |
|
|
|
Total Non-Allowable Assets |
|
00 |
|
00 |
|
5 |
Total Networth as on _____
(3-4) |
|
00 |
|
00 |
*Explanation: Includes
debts/advances overdue for more than three months or given to associates.
Date: Name of Partner
CA/CSMembership Number
Firm Registration No.
# The
USD - INR reference rate published by Reserve Bank of India (RBI) as on _______
(Networth date) is 1USD = Rs._______ is considered for calculation of Networth
as on ____________ (Networth date).
Others
__________________________________________________________________________________
Net Worth Certificate
Certificate dated …………… submitted by ……………… to NSEL (For Corporate(s), Partnership Firm(s), Individual(s), Sole Proprietor, Institution(s), Co-operative Societies)
CERTIFICATE
This is to certify that the Net worth of M/s. / Mr. / Ms. ……………………… as on …………… is Rupees ………………. only as per the statement of computation of even date annexed hereto. It is further certified that the computation of Net worth, based on my/ our scrutiny of the books of accounts, records and documents, is true and correct to the best of my / our knowledge and as per information provided to my / our satisfaction.
Place: For (Name of Certifying Firm)
Date: Name of Partner/Proprietor
CA/CSMembership Number
Firm Registration No.
Annexure
Computation of Networth of the Members
Annexure forming part of the Net worth Certificate of Even Date .....
The Members will have the option of computing their net worth as per any of the two methods given below. However, once a Member chooses one of the two given methods, he will have to continue to compute his net worth using the same method unless a change of method is specifically approved by the Exchange.
The net worth has been computed as per the format given below:
A. Paid up Capital *
B. Net worth calculated as follows:
C. Paid up Capital
D. Add: Reserve & Surplus (excluding revaluation reserves)
E. Less: Accumulated losses if any
F. Less: Miscellaneous Expenditure
G. Total Net worth (C+D)-(E+F)
* Give details of capital issued after the date specified above.
Place: For (Name of Certifying Firm)
Date: Name of Partner/Proprietor
CA/CSMembership Number
Firm Registration No.
__________________________________________________________________________________
For Certificate
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