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2007 (10) TMI 395 - SC - Indian LawsWhether the appellants were entitled to the benefit of fee continuity under para 7 of Circular dated 30-9-2002 issued by SEBI? Whether RCML, on amalgamation, duly sanctioned by Calcutta High Court, was entitled to claim the benefit of Fee Continuity? Whether the demand made by SEBI imposing fresh turnover/registration fees on the merged entity (RCML) constituted an act in derogation of the provisions of any other law for the time being in force in terms of section 32 of the said 1992 Act? Held that:- Held that:- Appeal dismissed. After the merger of RSL into RCML a new entity has emerged. In the circumstances, SEBI was entitled to charge the stipulated fees.
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