labels: investment - general, bse, sebi
BSE denies reports on brokers surrendering membershipnews
Our Markets Bureau
26 March 2003

Mumbai: The Bombay Stock Exchange (BSE) in a press communiqué said there have been reports in certain sections of the press that a number of BSE brokers are surrendering the membership in anticipation of their not being able to meet liabilities on account of the Securities and Exchange Board of India (SEBI) turnover tax by 31 March 2003.

In this connection, the BSE wishes to clarify that as of date no member of the BSE has approached the exchange for surrendering his or her membership right on account of the above reason.

It is further clarified that over 95 per cent of the active members of the BSE have furnished information regarding the turnover and are in the process of paying their turnover fee dues to SEBI as per the schedule stipulated by SEBI.

The fears of the media in this regard, therefore, appear to be unfounded, the BSE added.

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BSE denies reports on brokers surrendering membership