NCDEX ask members to maintain networth at Rs 50 lakh
The NCDEX has asked its members to maintain their minimum networth requirement at Rs 50-lakh, failing which the Exchange will block an amount based on the size of deficiency in the minimum networth.
By PTI |
MUMBAI: The National Commodity & Derivatives Exchange Ltd (NCDEX) has asked its members to maintain their minimum networth requirement at Rs 50-lakh, failing which the Exchange will block an amount based on the size of deficiency in the minimum networth.
The Exchange has also threatened to disable the terminals in some cases.
In a circular issued to its members, the Exchange said for members holding membership of only NCDEX, the minimum networth requirement shall be Rs 50 lakh and for members who have membership of other commodity exchanges as well, the minimum networth requirement shall be Rs 75 lakh.
Members are expected to ensure that the networth is maintained at the minimum prescribed level on a continuous basis, during the currency of their membership of the Exchange, it said.
The Exchange has asked members to submit a fresh networth certificate from a Chartered Accountant to be submitted by August 31, in cases where the networth of any member falls below the Rs 50 lakh limit.
The Exchange has also threatened to disable the terminals in some cases.
In a circular issued to its members, the Exchange said for members holding membership of only NCDEX, the minimum networth requirement shall be Rs 50 lakh and for members who have membership of other commodity exchanges as well, the minimum networth requirement shall be Rs 75 lakh.
Members are expected to ensure that the networth is maintained at the minimum prescribed level on a continuous basis, during the currency of their membership of the Exchange, it said.
The Exchange has asked members to submit a fresh networth certificate from a Chartered Accountant to be submitted by August 31, in cases where the networth of any member falls below the Rs 50 lakh limit.
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