BSE circular on Submission of Half yearly Networth Certificate as on March 31, 2026
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Highlights of the Circular
To All Clearing Members
Attention of the clearing members is drawn to the requirement of submission of half yearly networth certificate as on March 31, 2026. All Clearing Members of Indian Clearing Corporation Limited (ICCL) as on March 31, 2026, who have selected ICCL as Designated Clearing Corporation are required to submit networth certificate in the prescribed format to ICCL.
Members are further advised to refer to ICCL’s Notice no. 20260415-27 dated April 15, 2026 and for clarification on ascertaining Net worth as per SEBI Gazette Notification.
Further, as per Chapter X of the SEBI (Stockbrokers) Regulations, 2026, Net worth requirement for members shall be Base Net worth or Variable Net worth, whichever is higher.
Details of the documents required to be submitted are mentioned in the attached Annexures. Clearing Members are hereby requested to submit networth certificate, computation of base networth and variable networth as on March 31, 2026 as per formats (as applicable) prescribed by ICCL in Annexures latest by May 31, 2026.
Clearing Members are required to upload the necessary documents online through Electronic Filing system (IEFS). The path for submission of networth certificate is as below:
https://iefs.bseindia.in >> networth certificate (Please refer annexure -User Manual)
Details regarding actions for non-compliance with the provisions of this notice are provided under attached Annexures.
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Highlights of the Circular
As per the continuing membership norms of the Exchange, all Members of the Exchange are required to maintain minimum Networth at all points of time and submit the Networth certificate on a half yearly basis to the Exchange.
Trading Members (including members taken Margin trading facility approval from Exchange) are hereby requested to submit Networth Certificate & Computation of Networth as on March 31, 2026, as per formats prescribed (as applicable) latest by May 31, 2026.
As per Exchange notice no: 20250929-81 dated September 29, 2026 Members of the Exchange who are also registered with NSE are required to submit their Networth certificate to NSE only. Exclusive BSE members will continue to make submissions to BSE as per existing process.
Members are requested to adhere and comply with the applicable Networth (i.e., higher of the base Networth or variable Networth) as stated in the SEBI gazette notification No. SEBI/LAD-NRO/GN/2022/73 dated February 23, 2022. Members are advised to refer to Exchange notice no.03 dated January 23, 2024, for clarification on ascertaining Networth as per SEBI gazette notification.
In case of non-submission of Networth certificate within the due date or in case of any shortfall, nonsubmission of a revised Networth certificate along with the original Networth certificate as on March 31, 2026, disciplinary actions shall be initiated by the Exchange as stipulated in Exchange Notice no: 20260417- 45 dated April 17, 2026.