Supreme Court · 2015 INSC 854 · Decided 24 November 2015
Securities & Exchange Board of India v. Icap India PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 854 · [2015] 11 S.C.R. 65
- Case number
- CIVIL APPEAL No. 5275/2006
- Decided
- 24 November 2015
- Bench
- VIKRAMAJIT SEN, SHIVA KIRTI SINGH (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
Headnote
Securities & Exchange Board of India (Stock Brokers B & Sub-brokers) Regulations, 1992-Schedule Ill Explanation c after paragraph 3 - Term 'annual turnover' - Interpretation of -Annual turnover of the stock broker- Computation for the purpose of registration fee - Held: Annual turnover of the value of entire transaction for the purpose of computing the registration fee - Term 'annual D tu mover' cannot be interpreted so as to mean only the amount earned by the stock broker by way of brokerage. Partly allowing the appeal, the Court HELD: On a careful analysis of the
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