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        SEBI

        Regulation 7 - Capital adequacy requirement

        Securities and Exchange Board of India (Underwriters) Regulations, 1993
        Chapter II
        REGISTRATION OF UNDERWRITERS

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        Capital adequacy for underwriters: net worth requirement applies, with stockbrokers bound by exchange-specific standards. Regulation 7 requires applicants for registration as underwriters to meet a minimum capital adequacy requirement expressed as a specified net worth. Stockbrokers acting as underwriters must instead satisfy the capital adequacy requirements laid down by their stock exchange. 'Net worth' is defined for proprietary concerns, firms or associations as capital contributed plus free reserves, and for bodies corporate as paid-up capital plus free reserves as disclosed in the books of account at the time of application under regulation 3.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Capital adequacy for underwriters: net worth requirement applies, with stockbrokers bound by exchange-specific standards.

                              Regulation 7 requires applicants for registration as underwriters to meet a minimum capital adequacy requirement expressed as a specified net worth. Stockbrokers acting as underwriters must instead satisfy the capital adequacy requirements laid down by their stock exchange. "Net worth" is defined for proprietary concerns, firms or associations as capital contributed plus free reserves, and for bodies corporate as paid-up capital plus free reserves as disclosed in the books of account at the time of application under regulation 3.


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