IN THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

 

Appeal No.366/2005

 

Date of Decision

24.05.2006

 

 

Kunal Securities Pvt.Ltd.,                                                                           ……   Appellant

 

                  Versus

 

1. Securities & Exchange Board of India

2. Pune Stock Exchange Limited.                                                             ….      Respondents

 

Mr. Bharat Merchant, Advocate for the appellant

 

Mr. Dipan Merchant, Sr. Advocate with Mr. V. N. Shignapurkar, Advocate for Respondent No.1

 

None for Respondent No.2.

 

CORAM

        Justice N. K. Sodhi, Presiding Officer

        R. N. Bhardwaj, Member

 

Per:  Justice N. K. Sodhi, Presiding Officer(Oral)

 

            Challenge in this appeal is to the fee liability statement furnished by the Securities and Exchange Board of India (for short the Board) to the appellant calling upon it to deposit a sum of Rs.4,87,671 as registration fee under the Securities and Exchange Board of India(Stock Brokers & Sub Brokers) Regulations, 1992 (for short the Regulations).    The grievance of the appellant is that the Board has charged  a higher rate of fee  in regard to job transactions.  This aspect is not clear from the fee liability statement.  If the appellant has any grievance in regard to the rate at which the fee has been charged, it should represent to the Board.  There is no appealable order and, therefore, we cannot entertain this appeal under section 15T of the Securities and Exchange Board of India Act, 1992.  The learned counsel for the appellant prays that he may be allowed to withdraw the appeal to enable the appellant to make a representation to the Board.

          Dismissed as withdrawn.

 

sd/-

Justice N.K. Sodhi
Presiding Officer

sd/-

C.Bhattacharya
Member

sd/-

R.N.Bhardwaj
Member