Question
SEBI has directed BSE to pay a differential regulatory
fee for past dues with interest, due to a change in fee calculation from premium turnover to notional value of annual turnover. At what interest rate must BSE pay on any unpaid, delayed, or short-paid amounts for these past dues?Solution
SEBI instructed BSE to pay the differential regulatory fee on past dues at an interest rate of 15% per annum. Details- • Reason for Differential Fee: SEBI mandated that BSE should calculate regulatory fees based on the notional value of annual turnover rather than only the premium turnover for option contracts. • Interest Rate and Penalty: A 15% annual interest applies to unpaid, delayed, or short-paid fees, calculated monthly for each delayed month. • Payment Breakdown: o For FY22 and FY23: Payment must include the 15% interest. o For FY15 to FY21: SEBI allows payment in three equal installments from August 2025 to August 2027, including interest. • FY24 Requirement: For the most recent fiscal year, SEBI instructed payment within 30 days, without interest, as long as it’s paid on time.
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