SECURITIES AND EXCHANGE BOARD OF INDIA PRIMARY ...

RRTI CIRCULAR NO.3(98-99)
To: All Registered REgistrars to an Issue
/ Share Transfer Agents
Dear Sirs
SECURITIES AND EXCHANGE BOARD OF INDIA
PRIMARY MARKET INTERMEDIARIES DIVISION
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
Sub: Submission of the Networth Certificate
PMID/DSV/CIR/5500/99
January 18 , 1999
In exercise of the powers conferred upon SEBI, under section 11 of the SEBI Act, 1992, as also in implementation
of the provisions of the SEBI (Registrars to an Issue and Share Transfer Agents), Regulations, 1993, the present
circular is hereby issued to all Registrars to an Issue/Share Transfer Agents (RTIs/STAs) holding a certificate of
registration, granted to them in accordance with the SEBI (Registrars to an Issue and Share Transfer Agents), Rules
and Regulations, 1993.
SUBMISSION OF THE NETWORTH CERTIFICATE
In terms of sub Clause (iii) of Clauses (a) & (b) of Regulations 14 (1) of the SEBI (Registrars to an Issue and Share
Transfer Agents) Regulation, 1993, every RTI/STA whether a body corporate or not, is required to keep and
maintain, in respect of the three preceding financial years, statement of capital adequacy requirement for each
quarter. Further under Regulation 7, every RTI/STA is required to fulfil the networth criteria, prescribed therein.
Hence in order to monitor on regular basis and to ensure compliance of the capital adequacy and the networth
norms by the RTI/STA, as specified under Regulation 7(1) of the SEBI (Registrars to an Issue and Share Transfer
Agents) Regulations, 1993 which is required to be fulfilled and maintained, both at the time of the grant of renewal of
the certificate of registration and at all times during the period of registration, all RTIs/STAs are hereby directed to
submit, as soon as possible, but not later than two months from the close of each financial year, a certified true copy
of their networth statement.
All RTIs/STA/s are advised to ensure compliance of the instructions contained herein and the non compliance of this
would amount to a violation of the Code of Conduct as specified in Schedule III of the SEBI (Registrars to an Issue
and Share Transfer Agents) Regulations, 1993.
Please acknowledge receipt.
Yours faithfully,
D. RAVIKUMAR
page: 1 [ www.sebi.gov.in ]

page: 2 [ www.sebi.gov.in ]