Description

User manual for clearing members to submit half-yearly networth certificates via IEFS portal for the period ending September 30, 2025.

Summary

BSE has issued a user manual for clearing members to submit their half-yearly networth certificates as on September 30, 2025 through the IEFS (Integrated Electronic Filing System) portal at https://iefs.bseindia.in. The circular provides step-by-step instructions for the entire submission process including login procedures, networth details entry, auditor information, and document upload requirements.

Key Points

  • Clearing members must submit half-yearly networth certificates via IEFS portal
  • Members use their clearing code as both member code and login ID
  • First-time users must reset their password using the forget password option
  • All networth computation fields must be filled; enter ‘0’ for non-applicable fields
  • Variable networth amount must be entered in the designated field
  • Scanned documents must follow specific file naming conventions
  • Applications are subject to scrutiny by ICCL admin users
  • Applications with discrepancies will be sent back to members for corrections

Regulatory Changes

No new regulatory changes introduced. This is a procedural manual for existing compliance requirements.

Compliance Requirements

Submission Process:

  1. Login to IEFS portal using clearing code credentials
  2. Select ‘Networth Certificate’ option
  3. Choose mode as ‘Half Yearly’ and select applicable financial year
  4. Fill networth details as per networth computation
  5. Enter variable networth amount
  6. Accept declaration and save
  7. Enter auditor details
  8. Upload required documents with proper nomenclature
  9. Submit and generate application ID

Document Requirements:

  • Networth Certificate: File name format - netcert[clearingcode][mmmyyyy] (e.g., netcert123456sept2025)
  • Computation of Networth: File name format - netcomp[clearingcode][mmmyyyy] (e.g., netcomp123456sept2025)

Query Resolution:

  • Members will receive email notification if application is under query
  • Members must login to IEFS portal to view discrepancies
  • Required corrections must be made and application resubmitted

Important Dates

  • Reporting Period: As on September 30, 2025
  • Circular Date: October 17, 2025
  • Submission Deadline: Not explicitly mentioned in circular content

Impact Assessment

Impact on Clearing Members:

  • High compliance obligation requiring timely submission of audited financial information
  • Members must ensure proper documentation and file nomenclature to avoid rejection
  • Query responses may delay approval process

Operational Impact:

  • Members need to coordinate with auditors to obtain certificates within deadline
  • System requires specific file naming conventions which must be strictly followed
  • Failed submissions due to documentation errors may require resubmission

Market Impact:

  • Low direct market impact as this is an administrative compliance requirement
  • Ensures financial soundness of clearing members is monitored regularly
  • Non-compliance may affect member’s operational status with the exchange

Impact Justification

Mandatory half-yearly networth submission requirement for all clearing members with specific deadline for September 30, 2025 period. Non-compliance may affect member standing and operations.