SECURITIES APPELLATE TRIBUNAL

March 31, 2019

The Securities Appellate Tribunal (SAT) was recently forced to calculate simple interest in a matter after the SEBI and broker Prebon Yamane (India) failed to arrive at a consensus on the manner and the amount on which simple interest had to be calculated.

About:

Type of Body: Securities Appellate Tribunal (SAT) is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992.
Mandate: To hear and dispose of appeals against orders passed by the
- Securities and Exchange Board of India (SEBI),
- Pension Fund Regulatory and Development Authority (PFRDA) and
- Insurance Regulatory Development Authority of India (IRDAI).
Composition:
- SAT consists of a Presiding Officer & Two other members.
- The Presiding officer of SAT shall be appointed by the Central Government in consultation with the Chief Justice of India or his nominee.
Location of Tribunal: Mumbai.