CDSL Circular on-Submission of NETWORTH Certificate & Audited Financial Statements

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Contact: 9869265949,9870210171,  in...@secmark.in, kau...@secmark.in

Date of Issue: 26-12-2023

Issuer: CDSL

Submission of NETWORTH Certificate & Audited Financial Statements

Highlights of CDSL Circular dated December 26, 2023

The Stockbroker DPs are required to comply with the below mentioned net worth requirement specified in the SEBI notification dated 23rd February 2022, (Copy enclosed):

“Provided that the stockbroker shall have a net worth of rupees three crores {within one year of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}, which shall be increased to rupees five crores {within two years of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}:”

‘’Provided further that a self-clearing member fulfilling the net worth requirements as provided under the Securities and Exchange Board of India (Stockbrokers) Regulations, 1992 shall also be eligible to register as a depository participant.”

DPs having net worth below ₹5 crore as on 31st March 2023 are required to increase their net worth and submit the net worth certificate indicating net worth above ₹5 crore along with the audited financial statements (AFS) as on any date after 31st March 2023, to CDSL on or before 23rd February 2024.

The stockbroker DPs who are self-clearing member may submit the net worth certificate fulfilling the net worth requirements of ₹5 as provided under the Securities and Exchange Board of India (Stockbrokers) Regulations, 1992 along with AFS.

DPs who are having their net worth below ₹5 are requested to submit the Scanned / digitally signed copies of Net worth certificate and AFS as mentioned above through email on NW...@cdslindia.com  

In case of any clarification or assistance required in the implementation of this circular, you may contact

Vandana Vania - van...@secmark.in / 9223303460         

Kaushik Jethwa - kau...@secmark.in / 9870210171

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