Appeal to the Securities Appellate Tribunal

Appeal to the Securities Appellate Tribunal:

Any person aggrieved by an order of the board may, on and after the commencement of the /securities Laws (second amendment) Act, 1999, under these regulations may prefer an appeal to a Securities Appellate Tribunal having jurisdiction in the matter. Fees Every merchant banker shall pay a sum of Rupees five lacks as registration fees at the time of the grant of certificate by the Board. The fee shall be paid by the merchant a banker within fifteen days from the date of receipt of the intimation from the Board under sub regulation (1) of regulation 8. A merchant banker to keep registration in force shall pay renewal fee of Rs.2.5 lacs every three years from the fourth year from the date of initial registration. The fee shall be paid by the merchant banker within fifteen days from the date of receipt of intimation from the Board under sub-regulation (3) of regulation 9. The fees specified shall be payable by merchant banker by a demand draft in favor securities and Exchange Board of India‘ at payableMumbaioratthe respective regional office. Every Merchant banker shall pay registration fees as set out below:

1. Category I merchant banker; A sum of Rs. 2.5 lakhs to be paid annually for the first two years commencing from the date of initial registration and thereafter for the third year a sum of Rs. 1 lakh to keep his registration in force.

2. Category II merchant banker; A sum of Rs. 1.5 lakh to be paid annually for the first two years commencing from the date of initial registration and thereafter for the third year a sum of Rs. 50,000 to keep his registration in force.

3. Category III merchant bankers ; A sum of Rs.1 lakh to be paid annually for the first two years commencing from the date of initial registration and thereafter for the third year a sum of Rs.25,000 to keep his registration in force.

4. Category IV merchant bankers ; A sum of Rs.5,000/- to be paid annually for the first two years commencing from the date of initial registration and thereafter for the third year a sum of Rs.1000/- to keep his registration in force.

Renewal Fees:

4. Category I merchant bankers : A sum of Rs.1 lakh to be paid annually for the first two years commencing from the date of each renewal and thereafter for the third year a sum of Rs.20,000/-to keep his registration in force;

5. Category II merchant bankers : A sum of Rs.75,000/- to be paid annually for the first two years commencing from the date of each renewal and thereafter for the third year a sum of Rs.10,000/- to keep his registration in force ;

6.  Category III merchant bankers : A sum of s.50,000/ to be paid annually for the first two years commencing from the date of each renewal and thereafter for the third year a sum of Rs.5,000/- to keep his registration in force ;

Category IV merchant bankers : A sum of Rs.5,000/- to be paid annually for the first two years commencing from the date of each renewal and thereafter for the third year a sum of Rs.2,500/- to keep his registration in force ; In addition, the merchant banker has to pay the following fees towards documentation

Size of the Issue   Fee per Document (Rs.)

Up to 5 crores      10,000

More than 5 crores and up to 10 crores     15,000

More than 10 crores and up to 50 crores   25,000

More than 50 crores and up to 100 crores 50,000

More than 100 crores and up to 500 crores         2, 50,000

More than 500 crores    5, 00,000