Ref No : 1110/2002/CP/MDD/375(b)

April 26, 2002

All Member/Dealers

Sub : Refund of excess fees paid by Stock Brokers to SEBI.

SEBI vide their circular SMD/DBA-II/Cir-09/2002 dated April 23, 2002 have instructed us to inform the following :

Requests for refund of excess fee would be processed by SEBI only if the member concerned has paid excess over the fees and interest payable. All requests for refund of excess of fees should be routed through the concerned Exchange and should be accompanied by statement of turnover duly computed and certified by the concerned Exchange in the format specified in Annexure C of circular no. SMD/policy/cir-07/2002 dated March 28, 2002 and forwarded in hard and soft copy format as per the said circular and fee liability duly computed as per format enclosed herewith.

All member/dealers are requested to take note of the same.

Thanking you,

Yours faithfully,

Ajay C Singhvi

Asst. Vice President