- In a setback for the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) has set aside the regulator’s order issued against the promoters and senior management of erstwhile Satyam Computer Services, which had barred them from accessing the capital market for 14 years.
About Securities Appellate Tribunal
- Securities Appellate Tribunal is a statutory body established under the provisions ofSection 15K of the Securities and Exchange Board of India Act, 1992.
- It’s function is to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India (SEBI) or by an adjudicating officer under the Act and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.
Source: The Hindu