Description
User manual and guidelines for clearing members to submit half yearly networth certificates through the IEFS portal by 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 Exchange Filing System) portal at https://iefs.bseindia.in. The submission process involves five steps: login, networth details entry, auditor details, document upload, and final submission to ICCL for approval.
Key Points
- Clearing members must submit networth certificates through IEFS portal using their clearing code as login credentials
- First-time users must reset password using the forget password option
- Members must select “Half Yearly” mode and appropriate financial year
- Variable networth amount must be entered in designated field
- All non-applicable fields must be filled with ‘0’
- Specific file nomenclature must be followed for document uploads
- Applications are subject to ICCL scrutiny and may be sent back for corrections if discrepancies are found
Regulatory Changes
No regulatory changes are introduced in this circular. This is a procedural guide for existing compliance requirements.
Compliance Requirements
Portal Access:
- Login to IEFS portal at https://iefs.bseindia.in
- Member code and Login ID: Use clearing code (e.g., 123456)
- First-time users must reset password
Networth Submission Steps:
Networth Details: Select “Half Yearly” mode and applicable financial year, fill in networth computation details and variable networth amount
Auditors Details: Provide complete auditor information
Document Upload: Scan and upload documents with specific nomenclature:
- Networth Certificate: netcertclearingcodemmmyyyy (e.g., netcert123456sept2025)
- Computation of Networth: Netcompclearingcodemmmyyyy (e.g., netcomp123456sept2025)
Declaration and Submission: Accept declaration, save data, and click “Submit and Generate ID”
Query Resolution: If application is returned with queries, login to portal, make corrections as specified, and resubmit
Important Dates
- Networth Certificate Date: September 30, 2025
- Circular Issue Date: October 17, 2025
- Submission Deadline: Not explicitly stated, but implied to be immediately following September 30, 2025
Impact Assessment
Operational Impact:
- All clearing members must complete the submission process through IEFS portal
- Members unfamiliar with the portal may require time to familiarize themselves with the system
- Strict file nomenclature requirements may cause initial submission errors
Compliance Impact:
- Mandatory submission for all clearing members to maintain regulatory compliance
- Applications under query will delay approval and may impact member operations
- Members must ensure accurate networth computation and proper documentation
Process Impact:
- Automated portal-based submission streamlines the filing process
- ICCL scrutiny may result in queries requiring resubmission
- Email notifications keep members informed of application status
Impact Justification
Mandatory regulatory compliance requirement for all clearing members to submit networth certificates by September 30, 2025. Non-compliance may affect clearing member status and operations.