Networth for irdai
This query is : Resolved
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24 November 2025
Sir,
One of client request networth certificate for IMF registration for irdai thy only shared bank statement.compaby go incorporated on 24..as per irdai 10 lakh shukd be there ..how we can issue..pls help their bank balance stand at 10 lakh
One of client request networth certificate for IMF registration for irdai thy only shared bank statement.compaby go incorporated on 24..as per irdai 10 lakh shukd be there ..how we can issue..pls help their bank balance stand at 10 lakh
24 November 2025
- Check Incorporation Documents
- Verify the paid-up share capital as per MCA filings (MoA, AoA, Form PAS-3, etc.).
- If the promoters have infused capital, ensure it is reflected in the bank statement.
- Prepare Opening Balance Sheet (as of incorporation date)
- Assets: Bank balance ₹10 lakh.
- Liabilities: Share capital (equity) ₹10 lakh.
- Net worth = Paid-up capital + free reserves – accumulated losses – intangible assets – miscellaneous expenditure not written off.
- Since there are no other liabilities or expenses yet, net worth = ₹10 lakh.
- Verify the paid-up share capital as per MCA filings (MoA, AoA, Form PAS-3, etc.).
- If the promoters have infused capital, ensure it is reflected in the bank statement.
- Prepare Opening Balance Sheet (as of incorporation date)
- Assets: Bank balance ₹10 lakh.
- Liabilities: Share capital (equity) ₹10 lakh.
- Net worth = Paid-up capital + free reserves – accumulated losses – intangible assets – miscellaneous expenditure not written off.
- Since there are no other liabilities or expenses yet, net worth = ₹10 lakh.
24 November 2025
- A Chartered Accountant can issue a Net Worth Certificate based on:
- Bank statement showing ₹10 lakh balance.
- Incorporation documents showing capital infusion.
- Opening balance sheet prepared and signed by directors.
- Ensure the ₹10 lakh is share capital or reserves, not just temporary deposits.
- If the amount is promoter contribution, it must be properly reflected in the balance sheet as equity.
- Avoid issuing certificate only on bank statement — always tie it back to capital infusion and audited/unaudited balance sheet.
- IRDAI may reject if certificate doesn’t reconcile with MCA filings.
- Bank statement showing ₹10 lakh balance.
- Incorporation documents showing capital infusion.
- Opening balance sheet prepared and signed by directors.
- Ensure the ₹10 lakh is share capital or reserves, not just temporary deposits.
- If the amount is promoter contribution, it must be properly reflected in the balance sheet as equity.
- Avoid issuing certificate only on bank statement — always tie it back to capital infusion and audited/unaudited balance sheet.
- IRDAI may reject if certificate doesn’t reconcile with MCA filings.
24 November 2025
For a newly incorporated company, paid-up capital + reserves + surplus – liabilities is considered.
Prepare a board resolution confirming promoter capital contribution, attach bank statement, and prepare a simple balance sheet. Then have the CA certify net worth = ₹10 lakh. This makes the certificate defensible in case IRDAI queries.
Prepare a board resolution confirming promoter capital contribution, attach bank statement, and prepare a simple balance sheet. Then have the CA certify net worth = ₹10 lakh. This makes the certificate defensible in case IRDAI queries.
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