SEBI to cut intermediary fees by 50-80%

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New Delhi, Mar 5 (UNI) The Securities and Exchange Board of India (SEBI) today said it will reduce intermediary fees by 50-80 per cent which will be effective from April 1, 2008.

''The board has decided that it will form a committee of three independent board members headed by Mr Mohan Gopal, Director National Judicial Academy and Mr V Liladhar, Deputy Governor RBI, and Mr Anurag Goyal, Secretary in the Ministry of Corporate Affairs,'' Sebi Chairman C B Bhave said.

Mr Bhave added that the board will look into cutting gap between IPO close and listing dates.

UNI AK PDT ND1655

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