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CS Professional · Banking and Insurance - Laws and Practice · Inspection, Investigation, Penalty and Appellate Procedure

Following an inspection report, the Authority issued a written order cancelling the registration of Disha Insurance Brokers. Disha wishes to challenge the order. Under Section 33, where may it appeal?

Disha may appeal to the Securities Appellate Tribunal. Section 33 allows any insurer, intermediary or insurance intermediary aggrieved by an order made under that section, including a registration cancellation, to prefer an appeal to that tribunal.

  1. AThe Securities Appellate TribunalCorrect
  2. BThe Supreme Court directly
  3. CThe National Company Law Appellate Tribunal
  4. DThe Central Government

Explanation

Section 33(8) provides that an insurer or intermediary aggrieved by any order made under the section may prefer an appeal to the Securities Appellate Tribunal. Cancellation under 33(6)(b) is such an order.

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