Refund of base minimum capital

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..... Dear Sir/Madam, Sub:- Refund of base minimum capital 1. SEBI circular no. SMD/SED/Cir/93/22570 dated October 21, 1993, prescribed an absolute base minimum capital for various exchanges. The requirements of the base minimum capital were revised and enhanced vide SEBI circular no. SMD/SED/RCG/270/96 dated January 19, 1996 wherein the requirement of the base minimum capi .....

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..... lar would also be eligible to maintain the BMC at ₹ 1 lakh. The excess of the BMC over ₹ 1 lakh may be refunded to the member subject to the following conditions : (1) The member has been inactive at the stock exchange for the past 12 months, i.e. he has not carried out any transaction on that stock exchange during the past 12 months. (2) There are no investor compla .....

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..... hange shall enhance the requirement of the BMC of the members back to the level stipulated in SEBI Circular No. SMD/SED/RCG/270/96 dated January 19, 1996 and shall obtain undertaking to this effect from the members. 6. The undersigned has been authorised to direct the stock exchanges (1) to take immediate steps to make necessary amendments to the relevant bye-laws, rules a .....

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