Securities Appellate Tribunal is an Indian statutory and autonomous body created to hear appeals against the orders of India's main financial regulators. The presiding officer and other members of the Board are elected by the selection committee of the Prime Minister of India. Jurisdiction of Securities Appellate Tribunal extends to companies situated across India.
History and objective.
Securities Appellate Tribunal is formed as a statutory body as per the provisions of Section 15K of the Securities and Exchange Board of India (SEBI) Act, 1992 where orders passed by the Sebi are appealed, heard and resolved.
Powers.
Securities Appellate Tribunal hears appeals against the following orders:
Jurisdiction.
The Securities Appellate Tribunal has only one bench which sits in Mumbai and its jurisdiction extends to whole of India.
Composition.
The composition of Securities Appellate Tribunal includes Presiding officer, Judicial members and technical members.
The appointment of Presiding officer and other members of Securities Appellate Tribunal is done by a committee headed by Prime Minister of India.
Justice Dinesh Kumar is presiding member of Securities Appellate Tribunal.
Eligibility for members.
Following is the eligibility for the Presiding officer or members of Securities Appellate Tribunal.
References.
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