Informist, Monday, Apr 29, 2024
MUMBAI – BSE Ltd may have to pay the Securities and Exchange Board of India turnover fees of around 1.65 bln rupees if it was ascertained that the regulator's claim on the fees was correct, the exchange said in a filing on Sunday. The BSE said that it was "currently evaluating the validity, or otherwise, of the claim as per SEBI communication."
On Friday, SEBI had sent a letter to the BSE, directing it to pay certain regulatory fees for past periods, saying that the exchange had wrongly considered premium turnover in options contracts, instead of considering the notional turnover, to calculate the regulatory fee. SEBI said that since the introduction of derivatives contracts on the BSE, the exchange had been paying the mandated regulatory fee on "annual turnover" after considering the premium value for options contracts instead of the notional value. The market regulator, therefore, advised BSE to pay the differential regulatory fee for past periods, along with interest at 15% per annum, within a month.
In Sunday's filing, the BSE said that the total differential SEBI regulatory fees for the past periods from 2006-07 (Apr-Mar) to 2022-23 would be around 686.4 mln rupees "plus GST (goods and services tax) ". It said that the 686.4 mln rupees amount included an interest component of 303.4 mln rupees.
It further said that the differential SEBI regulatory fees for 2023-24 "if liable, could be around" 963 mln rupees "plus GST." At 1203 IST, shares of BSE were 12.1% down at 2,822.50 rupees on the National Stock Exchange. End
Reported by Rajesh Gajra
Edited by Akul Nishant Akhoury
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