https://www.taxtmi.com/caselaws?id=428968 Under the SEBI registration framework, a stock broker must obtain registration for each stock exchange on which it operates, because the statutory scheme, regulations, application form and certificate format together link registration to the concerned exchange rather than to a single all-purpose licence. The Court held that the singular wording of the enabling provision does not displace the broader regulatory structure. It also held that the ad valorem fee applies to each such exchange-specific registration and its renewal cycle, since the fee schedule governs both initial registration and renewal in relation to the relevant exchange. SEBI's circular was upheld as consistent with the governing legal framework. en-us Thu, 13 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 09:10:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428968 Under the SEBI registration framework, a stock broker must obtain registration for each stock exchange on which it operates, because the statutory scheme, regulations, application form and certificate format together link registration to the concerned exchange rather than to a single all-purpose licence. The Court held that the singular wording of the enabling provision does not displace the broader regulatory structure. It also held that the ad valorem fee applies to each such exchange-specific registration and its renewal cycle, since the fee schedule governs both initial registration and renewal in relation to the relevant exchange. SEBI's circular was upheld as consistent with the governing legal framework. Case-Laws SEBI Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428968