FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * GHAURI SALIM U   2. Issuer Name and Ticker or Trading Symbol NETSOL TECHNOLOGIES INC [NTWK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President, NTPK (Last) (First) (Middle) C/O NETSOL TECHNOLOGIES, INC., 24025 PARK SORRENTO, SUITE 410 3. Date of Earliest Transaction (Month/Day/Year) 03/10/2013 (Street) CALABASAS, CA 91302 4. If Amendment, Date Original Filed(Month/Day/Year) 03/11/2013 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options

$ 22.1

03/10/2013

03/10/2013

J

10,000

01/01/2004

01/02/2014

Common

10,000

$ 22.1

67,500

D

Options

$ 37.5

03/10/2013

03/10/2013

J

10,000

01/01/2004

01/02/2014

Common

10,000

$ 37.5

67,500

D

Options

$ 50

03/10/2013

03/10/2013

J

5,000

03/26/2004

03/26/2014

Common

5,000

$ 50

67,500

D

Options

$ 26.4

03/10/2013

03/10/2013

J

2,000

03/26/2004

03/26/2014

Common

2,000

$ 26.4

67,500

D

Options

$ 50

03/10/2013

03/10/2013

J

3,000

03/26/2004

03/26/2014

Common

3,000

$ 50

67,500

D

Options

$ 19.4

03/10/2013

03/10/2013

J

37,423

04/01/2005

04/01/2015

Common

37,423

$ 19.4

67,500

D

Options

$ 18.5

03/10/2013

03/10/2013

J

21,721

06/01/2005

06/01/2016

Common

21,721

$ 18.5

67,500

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GHAURI SALIM U C/O NETSOL TECHNOLOGIES, INC. 24025 PARK SORRENTO, SUITE 410 CALABASAS, CA 91302			President, NTPK

Signatures

/s/ Salim Ghauri		07/26/2013
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Remarks: This transaction was previously reported on Form 4 filed on March 11, 2013, which contained the incorrect Transaction Code.  The reported Transaction was cancellation of unexercised options with no value or consideration received by Reporting Individual. Number of Derivative Securities Beneficially Owned is as of July 26, 2013

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