Re: [CSMysore] Networth calculation for MGT-7

[Ankita Karnani]

ITS HAS BEEN DEFINED IN DEFINITION UNDER SECTION 2 

On Thu, Feb 13, 2020 at 5:00 PM rakesh kumar <cs.rk...@gmail.com> wrote:

Dear Professional....

How to calculate Networth for MGT-7?  Does there any changes in it?

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[CS SANDIP LATHIYA]

Networth = Paid Up Share Capital + Researves & Surplus.

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[rakesh kumar]

Security Premium  And  amount  of Profit or loss shall be part of it or not. 

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[Ankita Karnani]

(57) "net worth" means the aggregate value of the paid-up share capital and all reserves created out of the profits *****24 [,securities premium account and debit or credit balance of profit and loss account], after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation;  

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