Penalty structure for late submission and non-submission of half-yearly net-worth certificate & internal audit report and annual audit report

10^thApril,2014

N O T I C E

Re: Penalty structure for late submission and non-submission of half-yearly net-worth certificate & internal audit report and annual audit report

Trading members of the Exchange are hereby informed that the Disciplinary Action Committee of the Exchange has approved the new penalty structure for late submission and non-submission of half-yearly net-worth certificate & internal audit report and annual audit report as under:

Sl No.	Documents to be submitted	Approved Policy
1	Net worth Certificate	₹100/- per day of delay for 1^st Month after due date, Rs.150/- per day of delay for 2^nd Month after due date. ₹250 per day of delay from 3^rd month till the date of submission or date of deactivation whichever is earlier. Failure to submit within three months from due date will lead to deactivation of member’s terminal.
2	Internal Audit Report	₹100/- per day after due date till the last day of 3^rd month or date of submission of report ₹500/- per day from the end of 3 months from the due date till the date of submission of report If not submitted beyond 6 months trading terminals to be de-activated
3	Annual Accounts	₹100/- per day of delay for 1st Month after due date, Rs.150/- per day of delay for 2nd Month after due date. ₹250 per day of delay from 3rd month till the date of submission or date of deactivation whichever is earlier. Failure to submit within three months from the due date will lead to deactivation of member’s terminal.

For the benefit of ready information, trading members may note that various dues dates for submission of the above is as under:

For Net-worth as on 31^st March of a financial year – 30^th September is the due date

For Net-worth as on 30^th September of a financial year – 31^st March is the due date

For submission of Internal Audit Report for the first six months of the financial year – 30^th June is the due date

For submission of Internal Audit Report for the next six months of the financial year – 31^st December is the due date

For submission of Annual Audit Report – 30^th September is the due date.

Members may also note that the above revised penalty structure would be applicable for the due dates falling in the financial year starting from April 2014.

In view of the above, members are advised to take note of the above and comply with the requirements well within the due dates mentioned above.

(MAV Raju)

General Manager