{"id":18430,"date":"2025-09-04T12:31:42","date_gmt":"2025-09-04T07:01:42","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=18430"},"modified":"2025-09-04T15:27:45","modified_gmt":"2025-09-04T09:57:45","slug":"sat","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/sat\/","title":{"rendered":"Securities Appellate Tribunal (SAT)"},"content":{"rendered":"<h2><b>Securities Appellate Tribunal Latest News<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">US-based trading firm Jane Street Group recently filed an appeal in the Securities Appellate Tribunal (SAT) against the Securities and Exchange Board of India (Sebi) in the alleged market manipulation case.<\/span><\/p>\n<h2><b>About Securities Appellate Tribunal<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The SAT is a <\/span><b>statutory body<\/b><span style=\"font-weight: 400;\"> established under the <\/span><b>Securities and Exchange Board of India Act, 1992.\u00a0<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As a <\/span><b>quasi-judicial body,<\/b><span style=\"font-weight: 400;\"> SAT\u2019s primary objective is to <\/span><b>hear and dispose of appeals against orders passed by SEBI<\/b> <b>or by an adjudicating officer under the Act.\u00a0<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It has <\/span><b>jurisdiction <\/b><span style=\"font-weight: 400;\">over the <\/span><b>whole of India and operates from Mumbai.<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The SAT <\/span><b>also hears appeals against <\/b><span style=\"font-weight: 400;\">the following orders:<\/span>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Orders issued by<\/b><span style=\"font-weight: 400;\"> the <\/span><b>Insurance Regulatory and Development Authority of India (IRDAI)<\/b><span style=\"font-weight: 400;\"> in relation to cases filed before it.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Orders issued by<\/b><span style=\"font-weight: 400;\"> the <\/span><b>Pension Fund Regulatory and Development Authority (PFRDA)<\/b><span style=\"font-weight: 400;\"> in relation to cases filed before it.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align: justify;\"><b>Who can make an appeal?<\/b>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-weight: 400;\">These appeals may be filed by <\/span><b>any person aggrieved by SEBI&#8217;s decisions,<\/b><span style=\"font-weight: 400;\"> including <\/span><b>market participants, listed companies, intermediaries, <\/b><span style=\"font-weight: 400;\">or investors.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Securities Appellate Tribunal <\/b><b>Composition<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The SAT consists of <\/span><b>one Presiding Officer<\/b><span style=\"font-weight: 400;\"> and <\/span><b>such a number of judicial and technical members as the Central Government may determine.<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The person so appointed as the <\/span><b>presiding Officer <\/b><span style=\"font-weight: 400;\">should meet the <\/span><b>following requirements:<\/b>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The r<\/span><b>etired or sitting judge of the Supreme Court<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Chief Justice of the High Court<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Judge of the High Court,<\/b><span style=\"font-weight: 400;\"> who has completed at least <\/span><b>seven years of service<\/b><span style=\"font-weight: 400;\"> as a judge in a high court.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Judicial Member<\/b><span style=\"font-weight: 400;\">: <\/span><b>Judge of the High Court<\/b><span style=\"font-weight: 400;\"> for at least <\/span><b>five years of service.<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Technical Member:<\/b>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><b>Secretary or an Additional Secretary<\/b><span style=\"font-weight: 400;\"> in the Ministry or Department of the Central Government or <\/span><b>any equivalent post in the Central Government or a State Government<\/b><span style=\"font-weight: 400;\">; or<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Person of proven ability, integrity, and standing, having <\/span><b>special knowledge <\/b><span style=\"font-weight: 400;\">and <\/span><b>professional experience of not less than 15 years in the financial sector, <\/b><span style=\"font-weight: 400;\">including the securities market, pension funds, commodity derivatives, or insurance.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>Presiding Officer and Judicial Members <\/b><span style=\"font-weight: 400;\">shall be <\/span><b>appointed by the Central Government in consultation with the Chief Justice of India<\/b><span style=\"font-weight: 400;\"> or its nominee.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Securities Appellate Tribunal <\/b><b>Tenure<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The tenure for the Presiding Officer and other members will be <\/span><b>five years<\/b><span style=\"font-weight: 400;\"> from the date of appointment, and they shall be <\/span><b>eligible for re-appointment for another term of maximum five years.<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">However, n<\/span><b>o presiding officer or member<\/b><span style=\"font-weight: 400;\"> shall <\/span><b>hold office after <\/b><span style=\"font-weight: 400;\">he\/she has attained the <\/span><b>age of 70.<\/b><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Securities Appellate Tribunal <\/b><b>Powers<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SAT exercises the powers of a <\/span><b>civil court<\/b><span style=\"font-weight: 400;\"> and has the <\/span><b>authority to summon and enforce the attendance<\/b><span style=\"font-weight: 400;\"> of witnesses, <\/span><b>receive evidence,<\/b><span style=\"font-weight: 400;\"> and examine witnesses under oath.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It also has the <\/span><b>power to require the discovery <\/b><span style=\"font-weight: 400;\">and production of <\/span><b>documents<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Appeal against the Orders of the <\/b><b>Securities Appellate Tribunal<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Every person aggrieved by any order or decision of SAT can file an appeal to the <\/span><b>supreme court.<\/b><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An appeal can <\/span><b>only be made on any question of law.<\/b><\/li>\n<\/ul>\n<p><b style=\"font-size: inherit;\">Source<\/b><span style=\"font-weight: 400;\">: <\/span><a style=\"font-size: inherit;\" href=\"https:\/\/www.thehindu.com\/news\/national\/foreigners-tribunals-can-issue-arrest-warrants-send-people-to-detention-centres\/article70005218.ece\" target=\"_blank\" rel=\"nofollow noopener\"><span>TH<\/span><\/a><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\u00a0<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Securities Appellate Tribunal was mainly established to hear appeals against orders passed by the SEBI or by an adjudicating officer under the SEBI Act. Read more about Securities Appellate Tribunal (SAT), Composition, Tenure, Powers, Latest News.<\/p>\n","protected":false},"author":5,"featured_media":61976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[2509],"class_list":{"0":"post-18430","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-securities-appellate-tribunal","9":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=18430"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/18430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/61976"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=18430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=18430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=18430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}