Mumbai: The Securities and Exchange Board of India (Sebi) has prescribed that all recognised clearing corporations in International Financial Services Centre (IFSC), need to maintain Rs 50 crore net worth in the form of liquid assets on commencement of operations.

Also, every such clearing corporation will raise over a period of three years from commencement of operations, its net worth, to be maintained in the form of liquid assets, to a minimum of Rs 100 crore or capital as determined in accordance with the aforementioned Sebi circular dated April 10.

Clearing corporations will also regularly review their net worth requirement and ensure that the same does not fall below the prescribed threshold.

In exceptional cases, where the net worth of a clearing corporation falls below the prescribed threshold, it should inform Sebi of the reasons behind the same, and measures it intends to adopt in order to re-attain the prescribed net worth.