Discussion Forum

[020603]

In 2005 Delhi High Court decided a case against SEBI to the effect that SEBI fees is not payable stock exchange membershipwise but only based on the turnover of the stockbroker after taking into account his total turnover puttogether from all stock exchanges where he was a member. Further the hon'ble high court decided that SEBI does not have power to collect fees based on different registration certificates issued to persons who are members of more than one stock exchange. It further ordered SEBI to refund the excess fees collected which runs into several hundred crores.

SEBI went on appeal to the hon'ble supreme court and the case was admitted during Jan/Feb 2007.

Can anybody help me with the judgement of the Delhi High Court and enlighten me as to the present position of the case before the Supreme court?
Thanks in advance. Auditor T.J.Raghu Veeran