| The Bombay Stock Exchange Vide Exchange Notice No 20061031-21 dated October, 31, 2006 has given authorization to certify the Networth Certificate by the Practising Company Secretary. Hitherto, the said certificate was certified by the Chartered Accountants. The Institute made a representation to the BSE and SEBI highlighting the sensitivity of the matter and basis of professional education and training required for which the Chartered Accountants alone are duly qualified, trained and experienced. |
| The Bombay Stock Exchange in their response to our representation has stated that more than 90% of the Networth Certificates received by them from the trading members are mainly certified by qualified Practising Chartered Accountants. Further, they have stated that the Practising Company Secretaries can certify the Networth Certificates only and the audited accounts from which networth certificates are prepared, are still required to be certified by the Practising Chartered Accountants only. | | |
