BSE asks brokers to submit networth certificate by September 30

Leading stock exchange BSE today asked brokers to submit networth certificate, auditor's report and annual report for the past fiscal through electronic format by September 30.

"Submissions of networth certificate, computation of networth, auditor's report and audited annual accounts (complete annual report) are required to be made online in electronic format through BSE portal -- BSE Electronic Filing System -- by September 30, 2016," BSE said in a circular.

The exchange has also begun a facility for uploading the information on the portal from today.

In case a member fails to submit the details within the prescribed timeline, the exchange would impose fine and can also deactivate the trading terminals.

A fine of Rs 100 per day will be slapped till the first month from the due date and Rs 200 each day from the second month after due date and Rs 300 per day till the date of submission or date of discontinuation of margin trading facility, whichever is earlier, it said.

"If a member fails to submit the above till March 31, 2017, then in addition to fines, the BOLT Terminals of the defaulting members will be deactivated with effect from April 1, 2017," it added.

Trading members observing the accounting year other than one ending on March 31, would have to submit these information for the respective year ending within six months from end of the respective fiscal.