Regulation 15 - Networth certificate - Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018

Networth certificate 15. (1) Every depository shall maintain networth as specified under regulation 14(1)(a) at all times and submit an audited networth certificate from the statutory auditor on a yearly basis, by the thirtieth day of September of every year for the preceding financial year. Explanation: For the purposes of this regulation, networth of a depository means the aggregate value of paid up equity share capital and free reserves (excluding statutory funds, benefit funds and reserves created out of revaluation) reduced by the investments in businesses, whether related or unrelated, aggregate value of accumulated losses and deferred expenditure not written off, including miscellaneous expenses not written off. (2) Every depository shall within one month of the date of the holding of its annual general meeting, furnish to the Board a copy of its audited balance-sheet and profit and loss account for the preceding financial year.