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CS Professional · Drafting, Pleadings and Appearances · Adjudications and Appeals under SEBI Laws

Ritu Capital is advised on appeal routes after a SAT decision under the SEBI Act. Which statement correctly identifies the forum for appeal against the decision or order of the Securities Appellate Tribunal?

An aggrieved person appeals against a SAT decision to the Supreme Court under Section 15Z of the SEBI Act, 1992, on a question of law. Section 20 relates to old Board orders, Section 26B to Special Courts for offences, and Section 15M to SAT member qualifications.

  1. AThe Central Government under Section 20
  2. BA Special Court under Section 26B
  3. CThe Supreme Court under Section 15ZCorrect
  4. DA Bench of the Board under Section 15M

Explanation

Section 15Z provides the appeal from SAT decisions to the Supreme Court. Section 20 covers appeals to the Central Government against old Board orders made before the 1999 amendment commenced. Section 26B concerns trial of offences by Special Courts, and Section 15M deals with qualifications of SAT members.

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