Securities Appellate Tribunal
Recently, the Securities Appellate Tribunal (SAT) quashed a SEBI order banning Future Retail Chairperson and some other promoters from the securities market for one year in an insider trading case.
About SAT
- It is formed as a statutory and autonomous body as per the provisions of the Securities and Exchange Board of India (SEBI) Act, 1992.
- It was mainly established to hear appeals against orders passed by the SEBI or by an adjudicating officer under the SEBI Act.
- SAT has the same powers as vested in a civil court under the code of civil procedure while trying a suit.
Appeal
The SAT ....
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