Securities and Exchange Board of India (Stock Brokers and Sub‑Brokers) Regulations, 1992

The Supreme Court examined whether Magnum Equity Services Ltd., a corporate entity formed by converting a stock‑broking partnership, was entitled to a fee‑continuity exemption under Paragraph 1(4) of Schedule III of the SEBI (Stock Brokers and Sub‑Brokers) Regulations, 1992, after three of its original partners resigne…

The appellant, GPSK Capital Pvt. Ltd. (formerly Mantri Finance Ltd.), sought exemption from SEBI registration fees on the ground that it had acquired the Calcutta Stock Exchange membership of individual broker Srikant Mantri and claimed continuity of fee payment under paragraph 4 of Schedule III of the SEBI (Stock Brok…

The Supreme Court examined whether a stock broker must obtain a separate SEBI certificate of registration for each stock exchange where he operates, or whether a single registration suffices, and whether the ad valorem fee prescribed in Schedule III must be paid for each registration. The Court held that the expression…

OPG Securities Private Ltd, a stock broker, challenged SEBI's demand for registration fees calculated on the basis of its total turnover for periods after 1 October 2006. The demand was based on the earlier Schedule III of the SEBI (Stock‑brokers and Sub‑brokers) Regulations, which used the previous year's turnover on …

The Securities and Exchange Board of India (SEBI) appealed against the Securities Appellate Tribunal’s order directing SEBI to refund fees paid by M/s Prebon Yamane (India) Ltd (the Respondent). The dispute centered on whether the Respondent qualified for the "fee continuity" exemption under Clause 4 of Schedule III of…