SEBI revises annual issuers' charges

The Securities and Exchange Board of India on Tuesday revised the annual issuers' charges. Depositories will have to levy and collect the charges towards custody from the issuers, on per folio (ISIN position) basis at the end of the financial year, SEBI said. The issuers would be required to pay custody charges to the depository with whom they have established connectivity based on the total number of folios as on March 31 of the previous financial year or the minimum amount, by April 30 of each financial year failing which depositories may charge penal interest subject to a maximum of 12% pa. The revised charges will be effective from April 1, 2009