Interest Liability Regularisation lets brokers settle outstanding registration principal plus partial interest to waive remaining interest liability. SEBI's Interest Liability Regularisation Scheme, 2004 permits stock brokers with outstanding registration fee liabilities as of the Scheme reference date to regularize defaults by paying the entire outstanding principal, if any, together with a specified portion of outstanding interest within a defined Regularisation Period; on such payment the remaining interest specified in the Scheme is extinguished. Fee liabilities are computed per the Regulations using Exchange-certified turnover data in the prescribed format, no further data revisions will be permitted once taken on record, and non-participation leaves brokers liable to full fees, interest and enforcement action under the SEBI Act and Regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest Liability Regularisation lets brokers settle outstanding registration principal plus partial interest to waive remaining interest liability.
SEBI's Interest Liability Regularisation Scheme, 2004 permits stock brokers with outstanding registration fee liabilities as of the Scheme reference date to regularize defaults by paying the entire outstanding principal, if any, together with a specified portion of outstanding interest within a defined Regularisation Period; on such payment the remaining interest specified in the Scheme is extinguished. Fee liabilities are computed per the Regulations using Exchange-certified turnover data in the prescribed format, no further data revisions will be permitted once taken on record, and non-participation leaves brokers liable to full fees, interest and enforcement action under the SEBI Act and Regulations.
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