Net Worth Certificate in Mumbai

In Mumbai the question is rarely what you own. It is who is going to read it. A regulator testing an application against a threshold, a credit hub assessing a promoter and a society assessing a member all want one figure expressed three ways. Knowing which of them asked changes the drafting more than the numbers do. That decision is made first here. Our note on certification for entities and individuals covers the general position.

The second thing that matters is where the boundary of the statement sits. A director is not their company. A member is not their society, and a promoter is not the borrower. Mumbai files fail more often on that confusion than on valuation. Threshold conditions for registered intermediaries are published by the securities regulator.

• SEBIThe Board reads a net worth certificate as evidence against a threshold it has set, not as a general statement of position. It sits at the Bandra Kurla Complex, and the form it wants is prescribed by the regulation under which the applicant is registered. A certificate that answers the question in the applicant's words rather than the regulation's is sent back.
• BKC bank branchesLarge personal credit for Mumbai borrowers is generally assessed at a credit hub rather than at the branch holding the account. The reader is therefore not the relationship manager who asked for the certificate. Papers travel further inside a bank here than they do elsewhere, so a certificate that explains itself on its face saves a round of questions.
• Mumbai sub-registrarRegistration in the city runs through the offices for Mumbai City and Mumbai Suburban, and the two hold separate records. An island-city flat and a suburban one are searched in different places. The state's electronic search returns the index entry, while the certified copy still comes from the office that registered the document.
• Co-operative housing societiesNearly every Mumbai flat sits inside a co-operative society, and the society's own records govern what the flat is. Where a member has sub-let, created a nomination or lodged the flat as security, the society register shows it and the agreement for sale does not.

• SEBI-registered intermediariesAn intermediary's certificate is dated against a moving target. The Board notified the SEBI (Merchant Bankers) Amendment Regulations, 2025 on 2 January 2026, in force from the following day. The glide has two steps rather than one. A Category I merchant banker reaches Rs 25 crore of net worth by 2 January 2027 and Rs 50 crore by 2 January 2028. Liquid net worth for that category runs to Rs 6.25 crore and then Rs 12.5 crore. Category II runs to Rs 7.5 crore and then Rs 10 crore, with liquid net worth of Rs 1.875 crore and then Rs 2.5 crore.
• What that does to the draftingTwo features of the framework decide how the certificate reads. Liquid net worth has to be maintained at not less than a quarter of the minimum net worth at all times, which makes it a continuing test rather than a dated one. Portfolio managers answer a separate figure, raised to Rs 5 crore from Rs 2 crore, with existing managers given thirty-six months to reach it. A certificate reporting one number without saying which test it answers is of little use to the filing team.
• BKC lendersA lender in the same complex asks a different question of the same client. Promoter worth supporting a corporate facility is read alongside the borrower's accounts, and the personal statement is expected to exclude whatever is already pledged against the company's borrowing. Shares lodged as collateral, a flat mortgaged to the same bank and a guarantee already given are the three items that most often turn up on both sides of a Mumbai file.
• Redevelopment members proving worth to a societyRedevelopment gives the city a class of file that other cities do not generate. A member proving worth partway through holds rights in a building being pulled down, a permanent alternate accommodation agreement, and often a corpus payment and a rent cheque from the developer. The agreement is the instrument carrying the right, and the share certificate continues to run against the old flat until the new one is conveyed. A statement showing the flat as though nothing were happening to it misdescribes what the member actually owns. The corpus received and the rent being paid are receipts rather than holdings, and describing them as such keeps the statement accurate.

• The share certificate, the society's no-dues letter and a register extract
• The permanent alternate accommodation agreement, where the building is in redevelopment
• Index II from the Mumbai City or Mumbai Suburban office, whichever registered the deed
• The regulation and the form the recipient has prescribed, where a threshold is being tested
• Audited accounts of any company in which you hold shares or a current account balance
• The lender's confirmation of what is pledged, for shares or property already charged

Certification does not cost more in Mumbai than anywhere else. The fee is the national one: Starting from INR 1999 (Exl GST and Govt. Charges) for one individual with records in order, and On quote where several properties, unlisted shareholdings or reconstructed records are involved.

See the full fee table on the Net Worth Certificate page.

All fees listed are indicative only and do not constitute a binding offer. The final amount depends on the scope of records to be examined.

Get a free consultation — Call +91 94594 56700 or WhatsApp us.

Certify whichever one the condition actually names, and no more. Where a reader has asked only about the entity, adding a personal statement invites questions the file did not need to answer.

Enter holdings and borrowings, and see where the position lands. On a Mumbai file the useful step is comparing that figure with the condition being tested, before anything is drawn. Anything already pledged is excluded, which is usually what moves the number. The output is an estimate.

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Go deeper:

A Mumbai certificate is more often read against a regulatory threshold than against a lender's comfort. That makes the governing instrument the regulation the applicant is registered under, and the certificate has to engage with the test it sets.

Beneath that sit the general rules about what a person owns and what a company owns. The boundary between the two is where these files most often fail.

• SEBI (Merchant Bankers) Amendment Regulations 2025, notified 2 January 2026raises capital and liquid net worth in two stages to 2 January 2028, and keeps liquid net worth at not less than a quarter of the minimum at all times.
• SEBI (Portfolio Managers) Regulations 2020sets the portfolio manager net worth requirement at Rs 5 crore, with a transition period for managers registered before the increase.
• Companies Act 2013, section 2(57)defines net worth for a company, which is not the same figure as a director's own position and cannot be substituted for it.
• Transfer of Property Act 1882, section 58defines a mortgage, and so identifies the assets already answering for a borrowing that cannot answer again.
• ICAI Council decision on UDIN, mandatory from 1 February 2019requires a unique number on the certificate, which a filing team uses to confirm it on the Institute's portal.

Official sources: ICAI · ICAI UDIN Portal · Ministry of Corporate Affairs · Income Tax Department

A Mumbai file waits on the society, and a building under redevelopment adds a further layer, because rights that stop short of completed title have to be described precisely rather than glossed. Start collecting well before the recipient's date is close. Call or WhatsApp +91 94594 56700 to find out what your building's position allows.

Mumbai positions are usually dominated by one flat, and society records are what evidence it. Where the building is under redevelopment the position changes: a member holds rights that stop short of completed title. A MahaRERA-registered redevelopment carries its own paper trail as well. Tell us whether redevelopment is under way before we begin, and send the society records with the registered agreement.