Lawzonline.com

 

 

 


 Home>>Bare Acts>>Back to Index

 

 

15T. Appeal to the Securities Appellate Tribunal.- (1) Save as provided in sub-section (2), any person aggrieved,-

(a) by an order of the Board made, on and after the commencement of the Securities Laws (IInd Amendment) Act, 1999, under this Act, or the rules or regulations made thereunder; or

(b) by an order made by an Adjudicating Officer under this Act, may prefer an appeal to a Securities Appellate Tribunal having jurisdiction in the matter.

(2) No appeal shall lie to the Securities Appellate Tribunal from an order made-

(a) by the Board on and after the commencement of the Securities Laws (IInd Amendment) Act, 1999;

(b) by an Adjudicating Officer, with the consent of the parties.

(3) Every appeal under sub-section (1) shall be filed within a period of 45 days from the date on which a copy of the order made by the Board or the Adjudicating Officer, as the case may be is received by him and it shall be in such form and be accompanied by such fee as may be prescribed:

PROVIDED that the Securities Appellate Tribunal may entertain an appeal after the expiry of the said period of 45 days if it is satisfied that there was sufficient cause for not filing it within that period.

(4) On receipt of an appeal under sub-section (1), the Securities Appellate Tribunal may, after giving the parties to the appeal, an opportunity of being heard, pass such orders thereon as it thinks fit, confirming, modifying or setting aside the order appealed against.

(5) The Securities Appellate Tribunal shall send a copy of every order made by it to the Board, the parties to the appeal and to the concerned Adjudicating Officer.

(6) The appeal filed before the Securities Appellate Tribunal under sub-section (1) shall be e dealt with by it as expeditiously as possible and endeavour shall be made by it to dispose of the appeal finally within six months from the date of receipt of the appeal.

 

 

 

 

Central Bare Acts
State Bare Acts

  

 

 

 


Home | Law Dictionary | Law Schools | Law Digest | Bare Acts | Disclaimer |  Privacy Policy


  
  
 

 

 

Copy right : Indu Info (All rights reserved)