[Civil Appeal No. 7607 of 2005]. This Appeal assails the Judgment dated 17.8.2005 pronounced by the Securities Appellate Tribunal (hereinafter 'SAT') directing the Appellant as well as the National Stock Exchange (NSE for brevity) to continue to grant the Respondent the "fee continuity benefit" as was available to them before the NSE decided to permit segmental surrender of membership to its members. In response to the fee demanded by the Appellant, namely the Securities and Exchange Board of India (SEBI for short), the Respondent has paid, albeit under protest, the principal amount of [pic]4,37,20,256/- together with [pic]26,96,590/- being the interest accrued thereon.
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