<div>Finance Minister Arun Jaitley today proposed to amend the Sebi Act in order to increase benches in the Securities Appellate Tribunal (SAT).<br /><br />Currently, SAT has only one bench which sits in Mumbai. All the orders passed by the Securities and Exchange Board of India (Sebi) can be appealed in SAT.<br /><br />The proposed move will help expedite cases related to securities markets. SAT is a statutory body established under the provisions of the Sebi Act, 1992, to hear and dispose of appeals against orders passed by the capital markets regulator.<br /><br />While unveiling the Budget 2016-17 in the Lok Sabha, Jaitley proposed to amend the Sebi Act to increase benches in SAT to reduce pendency.<br /><br />As per the latest Sebi data, 520 appeals were filed before SAT during 2014-15 whereas 103 appeals were dismissed and 381 appeals were pending at the end of the year. Besides, 16 Sebi orders were upheld with changes.<br /><br />As per the Sebi Act, the orders passed by the regulator can be appealed before SAT while the Tribunal's orders can be further challenged before the Supreme Court.<br /><br />The success rate in the Securities Appellate Tribunal for 2014-15 stood at 90 per cent compared with 88 per cent in 2013-14, Sebi has said.<br /><br />Against SAT's orders, five appeals were filed by Sebi whereas 31 appeals were filed against Sebi in the Supreme Court during 2014-15.<br /><br />Nine appeals were disposed of where the appeals were filed by Sebi while 25 appeals were disposed of where the appeals were filed against Sebi. <br /></div>
<div>Finance Minister Arun Jaitley today proposed to amend the Sebi Act in order to increase benches in the Securities Appellate Tribunal (SAT).<br /><br />Currently, SAT has only one bench which sits in Mumbai. All the orders passed by the Securities and Exchange Board of India (Sebi) can be appealed in SAT.<br /><br />The proposed move will help expedite cases related to securities markets. SAT is a statutory body established under the provisions of the Sebi Act, 1992, to hear and dispose of appeals against orders passed by the capital markets regulator.<br /><br />While unveiling the Budget 2016-17 in the Lok Sabha, Jaitley proposed to amend the Sebi Act to increase benches in SAT to reduce pendency.<br /><br />As per the latest Sebi data, 520 appeals were filed before SAT during 2014-15 whereas 103 appeals were dismissed and 381 appeals were pending at the end of the year. Besides, 16 Sebi orders were upheld with changes.<br /><br />As per the Sebi Act, the orders passed by the regulator can be appealed before SAT while the Tribunal's orders can be further challenged before the Supreme Court.<br /><br />The success rate in the Securities Appellate Tribunal for 2014-15 stood at 90 per cent compared with 88 per cent in 2013-14, Sebi has said.<br /><br />Against SAT's orders, five appeals were filed by Sebi whereas 31 appeals were filed against Sebi in the Supreme Court during 2014-15.<br /><br />Nine appeals were disposed of where the appeals were filed by Sebi while 25 appeals were disposed of where the appeals were filed against Sebi. <br /></div>