Govt plans to amend Sebi Act for more members, Benches of SAT
To help expedite cases related to securities markets, the government is planning to amend the Securities and Exchange Board of India ( Sebi) Act with an aim to increase members and Benches in the Securities Appellate Tribunal ( SAT).
A proposal to amend the Act will soon be placed before the Cabinet for its approval, sources said. This will pave the way for more benches and members for SAT.
Currently, SAT has only one bench, which sits in Mumbai with one presiding officer and two members.
All the orders passed by Sebi can be appealed in SAT. The move to have benches in more cities will help in expeditious.
Business Standard, New Delhi, 09 June 2016