Define the term 'Net Owned Fund'.
CS Executive · Setting up of Business Entities and Closure · PYQS · December 2020
Define the term 'Net Owned Fund'.
Answer & Explanation:
According to Rule 3 of the Nidhis Rules, 2014, Net Owned Fund means the aggregate of paid up equity share capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet. Further, the amount representing the proceeds of issue of preference shares shall not be included for calculating Net Owned Funds.
Topics: Financial Services
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