On Sep. 15, 2026, IND CDSL advised DPs to submit their net worth certificate and AFS for financial year ending Mar. 31, 2026, on or before Oct. 31, 2026.
DPs must also note that the online facility for submissions has been enhanced with certain additional features; the details are provided in Annexure A.
Any clarifications sought by IND CDSL shall be routed through the audit web application; the detailed process for this is provided in Annexure B.
On May 4, IND CDSL issued deadline for submission of certificate.
IND CDSL said DPs with financial year ending on Mar. 31, 2023 must submit net worth certificate along with audited financial statements (AFS) on or before Sep. 30, 2023.
Follows IND CDSL Sep. 2019 extended time for submission of certificate, see #65855.
Document dated May 4, 2023, received from IND CDSL May 5, summarized on May 9.
Communique Overview
DPs seeking extension for annual general meeting for approval of annual accounts must submit a copy of the approval received from registrar of companies to IND CDSL.
Stock brokers, NBFCs and RTA DPs must submit to IND CDSL net worth computed in the manner specified in annexure 17.1 of depository participant operating instructions.
DPs with net worth below INR 5 crore as on Mar. 31, 2023 are required to increase their net worth and submit to IND CDSL, the net worth certificate indicating as such.
Along with the AFS on any date after Mar. 31, 2023, and on or before Feb. 24, 2024.
DPs are requested to submit the scanned and digitally signed documents via email.
Aug. 30, 2023 Communique re Stock Brokers
On Aug. 30, 2023, IND CDSL issued communique to depository participants (DPs) regarding submission of net worth certificate and audited financials statements (AFS).
IND CDSL reminded about the IND SEBI notification (of Feb. 23, 2022) regarding an amendment to SEBI (depositories and participants) regulations 2018, see #126589.
This particular amendment states: provided further that a self-clearing member fulfilling the net worth requirements as provided under the Securities and Exchange Board of India (stockbrokers) regulations 1992 shall also be eligible to register as a DP.
In light of the above, a stock broker DP who is a self-clearing member may submit the net worth certificate fulfilling the net worth requirements as provided under Securities and Exchange Board of India (stockbrokers) regulations 1992 along with AFS.
Sep. 2023 Amendment to Bye Laws
On Sep. 25, 2023, IND CDSL amended CDSL bye laws with respect to extension in submission of net worth and audited financial statement by depository participants.
Communiques to depository participants, registrar and transfer agents were issued.
Participants are required to annually provide IND CDSL with their audited financial statements and auditors' reports, due by Oct. 31 of the following financial year.
IND CDSL has authority to grant an extension if exceptional circumstances justify it.
The amendments are effective immediately.
Dec. 2023 Net Worth Submission
On Dec. 26, 2023, IND CDSL reminded on the submission of net worth statements.
DPs with a net worth below INR5 crore as on Mar. 31, 2023, must increase their net worth and submit the net worth certificate indicating net worth above INR5 crore.
The aforesaid certificate must be submitted along with the AFS by Feb. 23, 2024.
Further, stockbroker DPs who are self-clearing members may submit the net worth certificate fulfilling the net worth requirements of INR5 crore along with the AFS.
DPs who are having their net worth below INR5 crore are requested to submit digitally signed copies of net worth certificate and AFS as mentioned above through email.
Mar. 2024 Amendments to Bye Laws
On Mar. 22, 2024, IND CDSL issued circulars to DPs and issuers/RTAs on amendments to CDSL bye laws regarding submission of net worth certificate, effective same day.
Participants shall submit a net worth certificate including computation thereof based on audited financial statements certified by a practicing chartered accountant, due by Oct. 31 of the following financial year and calculated/itemized as per operating instructions.
IND CDSL has authority to grant an extension if exceptional circumstances justify it.
Jun. 2024 Additional Requirements
On Jun. 28, 2024, IND CDSL outlined specific requirements for DPs on the submission.
DPs that are stock brokers, non-banking finance companies, or registrars to an issue or share transfer agents must meet the net worth requirement specified in regulation.
Common submission deficiencies include incorrect format of net worth certificates, submission based on provisional financial statements, and incomplete AFS.
Clarifications specify treatment of items such as redeemable preference shares, group company investments, statutory contingent liabilities in net worth computations.
Specific guidelines are given on how to compute net worth, including the treatment of various types of reserves and receivables from related parties or group companies.
Sep. 2025 Submission Clarification
On Sep. 12, 2025, IND CDSL advised DPs they should submit online their net worth certificate and AFS for financial year ending on Mar. 31, 2025, by Oct. 31, 2025 latest.
The format of net worth certificate and computation method of net worth is enclosed as annexures A and B, with clarifications on computation of net worth also provided.
A list of common submission errors observed is included as annexure C, for guidance.
Document dated Sep. 12, 2025, was added on Oct. 13, 2025 due to editorial backfill.
Sep. 2026 Submission of Certificates
On Sep. 15, 2026, IND CDSL advised DPs to submit their net worth certificate and AFS for financial year ending Mar. 31, 2026, on or before Oct. 31, 2026.
DPs must also note that the online facility for submissions has been enhanced with certain additional features; the details are provided in Annexure A.
Any clarifications sought by IND CDSL shall be routed through the audit web application; the detailed process for this is provided in Annexure B.
Regulators
IND CDSL
Entity Types
Auditor; B/D; Depo; MSB
Reference
Com CDSL/A,I&C/DP/POLCY/2026/634, 9/15/2026; Com CDSL/A,I&C/DP/POLCY/2025/616, 9/12/2025; Com CDSL/A,I&C/DP/POLCY/2024/356, 6/28/2024; Com CDSL/L&CS/DP/POLCY/2024/166, CDSL/L&CS/RTA/POLCY/2024/47, 3/22/2024; Com CDSL/A,I&C/DP/POLCY/2023/749, 12/26/2023; Com CDSL/L&CS/RTA/POLCY/2023/205, CDSL/L&CS/DP/POLCY/2023/561, 9/25/2023; Com CDSL/A,I&C/DP/POLCY/2023/511, 8/30/2023; Com CDSL/A,I&C/DP/POLCY/2023/276, 5/4/2023
