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Centre Appoints Two Members To Securities Appellate Tribunal menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
According to rules, the presiding officer of the tribunal should constitute a bench with two or more judicial or technical members. However, every bench should include at least one judicial and one technical member. ....
Confirming its interim directions against 20 entities in the Brightcom Group Ltd (BGL) matter, the Securities and Exchange Board of India (SEBI) suggested an examination and action if required by the directorate of enforcement (ED) in the settlement of loans advanced to M Suresh Kumar Reddy, former chairman and managing director (CMD) and his companies abroad through allotment of shares in India. ....
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order. ....
The functioning of SAT which hears appeals against orders by the capital markets regulator is likely to be affected after the retirement of the presiding officer. SAT has a sanctioned strength of three judges. The lack of a presiding officer will lead to an increase in litigation as appeals filed before SAT against adjudication orders passed by Sebi will remain pending, said securities lawyers. ....