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.


  • 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. 

Source : The Hindu