Net worth requirement mandates minimum capital for portfolio managers and separate compliance from capital adequacy rules. Net worth requirement prescribes a minimum threshold for registration of portfolio managers and allows transitional compliance for existing registrants; it must be met separately and independently of capital adequacy requirements, with an exemption for Co investment Portfolio Managers. Net worth is defined as paid up equity capital plus free reserves (excluding revaluation reserves) reduced by accumulated losses and deferred expenditure not written off, including miscellaneous unamortised expenses.
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.
Net worth requirement mandates minimum capital for portfolio managers and separate compliance from capital adequacy rules.
Net worth requirement prescribes a minimum threshold for registration of portfolio managers and allows transitional compliance for existing registrants; it must be met separately and independently of capital adequacy requirements, with an exemption for Co investment Portfolio Managers. Net worth is defined as paid up equity capital plus free reserves (excluding revaluation reserves) reduced by accumulated losses and deferred expenditure not written off, including miscellaneous unamortised expenses.
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