Sebi to impose fee on exchanges
Mumbai: The Securities and Exchange Board of India ( Sebi) has decided to impose a fee on stock exchanges and is finalising the decision, which will later be communicated to the exchanges.

The charges will be set according to the turnover of the stock exchanges.

This is the first time that the market regulator will be charging the stock exchanges. Till now, various activities on stock exchanges were charged by the government in form of levying securities transaction tax on deals and fees to brokers.

The new fee will be a charge on the stock exchanges directly.
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HLL to set up alternative shareholders' dispute redressal fora
Kolkata: FMCG major, Hindustan Lever, is organising an alternative dispute redressal fora in different cities for its shareholders.

After Ahmedabad and Mumbai, the third such exercise would begin at Kolkata tomorrow and during the next two days shareholders would be provided an opportunity to settle their disputes, a company spokesman said.

It is estimated that as many as 2.5 lakh HLL shares valued at Rs6 to 7 crore are disputed.

The Kolkata exercise would be organised with the support of the city-based Federation of Consumer Association and would be presided over by a retired high court judge, he said.

The exercise has already met with good success at Ahmedabad and Mumbai earlier, once mutual consent is reached the settlement proposal would be implemented within 30 to 60 days and the affected shareholders would also have the right to proceed against the broker or other parties, who may have misconducted the transactions.
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Raj TV to release IPO in early 2007
Mumbai: South based TV major Raj Television Network (Raj TV) is planning to come out with a Rs 100 crore IPO by mid-January to finance its growth initiatives. Raj TV is planning to launch a new youth channel by mid-June 2007 that will entail an investment of around Rs10 crore.

The company, which will set up a 9,000 sq ft state-of- the-art studio here, also plans to expand its footprint overseas, strengthen its distribution network abroad and foray into the production of tele-films besides enhancing content.

The company has two channels — family channel Raj TV and movie channel Raj Digi Plus. Raj TV became a pay channel in 2003.

The company will be offloading 25 per cent of its shares (or 36 lakh shares) through the IPO in mid-January.

The southern satellite TV major had clocked a PAT of Rs 2.9 crore on a turnover of Rs 32 crore in FY 06 and hopes to grow this to around Rs 10 crore on a turnover of Rs40-crore this fiscal.
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