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capital adequacy requirement of portfolio manager

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked almost 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Portfolio manager must have capital adequacy requirement of not less than networth of two crore rupees. However the portfolio manager shall fulfill capital adequacy requirement under these regulations, separately and independently of capital adequacy requirements if any for each activity undertaken by it under the relevant regulations

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered almost 3 years ago

Portfolio manager must have capital adequacy requirement of not less than networth of two crore rupees. However the portfolio manager shall fulfill capital adequacy requirement under these regulations, separately and independently of capital adequacy requirements if any for each activity undertaken by it under the relevant regulations. Networth for the purpose means the aggregate value of paid-up equity capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated looses and deferred expenditure not written off, including miscellaneous expenses not written off.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered almost 3 years ago

Capital Adequacy Requirement Portfolio manager must have capital adequacy requirement of not less than networth of two crore rupees. However the portfolio manager shall fulfill capital adequacy requirement under these regulations, separately and independently of capital adequacy requirements if any for each activity undertaken by it under the relevant regulations. Networth for the purpose means the aggregate value of paid-up equity capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated looses and deferred expenditure not written off, including miscellaneous expenses not written off. SEBI on being satisfied that the applicant fulfils the requirement specified above shall send an intimation to the applicant. On payment of the requisite fees by the applicant in accordance with Clause 1A of Schedule II of the Regulations, he will be granted a certificate of Registration in Form-B. Thanks

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