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What is the minimum networth requirement for becoming a member of the Exchange ?

April 26, 2017exchange minimum networth requirement

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What is the minimum networth requirement for becoming a member of the Exchange ?

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Minimum prescribed net worth for an applicant is Rs.50 lakh. Net worth certificate should be computed for this purpose by following a definition of net worth adopted by practising Chartered Accountants for finalisation of accounts. Existing fund based asset, if any should be excluded for calculation of net worth. In case, the company is a member of any Commodity Exchange(s), it should satisfy the combined minimum Net Worth requirements of all these Exchanges including NMCEIL.