Under SEBI (Investment Advisers) Regulations, 2013 (as amended), what are the mandatory 'Net Worth' criteria for an applicant seeking registration as an Individual Investment Adviser versus a Corporate Body?

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Derivation

SEBI's registration criteria for Investment Advisers layer a capital adequacy requirement on top of the certification requirement, and the two are not substitutes for each other. An Individual applicant must demonstrate net worth of at least ₹5 Lakhs, while a Non-Individual applicant, meaning a corporate body offering advisory services at scale, faces a materially higher bar of ₹50 Lakhs, reflecting the larger client base and operational exposure such an entity typically carries. This net worth must be evidenced through a certificate from a practicing Chartered Accountant as part of the registration application. Passing the mandatory NISM certification exam demonstrates competence but does not itself satisfy this separate financial capacity requirement.

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