Securities And Exchange Board Of India - Subsection
Section 8(1) in Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
(1)Investment advisers who are non-individuals shall have a net worth of not less than fifty lakh rupees.Explanation. - For the purposes of this regulation, "networth" means the aggregate value of paid up share capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated losses, deferred expenditure not written off, including miscellaneous expenses not written off, and networth requirement for other services offered by the advisers in accordance with the applicable rules and regulations.
