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Informist, Wednesday, Dec. 18, 2024

MUMBAI – The Securities and Exchange Board of India Wednesday approved amendments to provisions related to payment of the annual fee by depositories to the market regulator. The payment of annual fee by depositories shall be within 15 days from the beginning of each financial year, the regulator said in a press release. 

Depositories will be liable to pay an interest of 15% on the amount not paid, in case of non-payment, late payment, or short payment of the annual fee for every month of delay, the regulator said. The depositories "shall intimate the details of remittance, along with the statement of computation of annual charges certified to be correct by a chartered accountant, to ensure correctness in computation and independent verification of annual charges paid to the board (SEBI) by the depository," it said.  End

Reported by Anjana Therese Antony

Edited by Deepshikha Bhardwaj

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