Section 15L - Composition of Securities Appellate Tribunal - Securities and Exchange Board of India Act, 1992

Extract

1 [Composition of Securities Appellate Tribunal. 15L. (1) The Securities Appellate Tribunal shall consist of a Presiding Officer and such number of Judicial Members and Technical Members as the Central Government may determine, by notification, to exercise the powers and discharge the functions conferred on the Securities Appellate Tribunal under this Act or any other law for the time being in force. (2) Subject to the provisions of this Act,- (a) the jurisdiction of the Securities Appellate Tribunal may be exercised by Benches thereof; (b) a Bench may be constituted by the Presiding Officer of the Securities Appellate Tribunal with two or more Judicial or Technical Members as he may deem fit: Provided that every Bench constituted shall include at least one Judicial Member and one Technical Member; (c) the Benches of the Securities Appellate Tribunal shall ordinarily sit at Mumbai and may also sit at such other places as the Central Government may, in consultation with the Presiding Officer, notify. (3) Notwithstanding anything contained in sub-section (2), the Presiding Officer may transfer a Judicial Member or a Technical Member of the Securities Appellate Tribunal from one Bench to another Bench.] ************ 1 Substituted by Part VIII of Chapter VI of the Finance Act, 2017 vide Gazette Notification No. 7, Extraordinary Prt II Section 1 dated March 31, 2017. This shall come into force from April 26, 2017. Prior to its substitution, Section 15L read as follows: A Securities Appellate Tribunal shall consist of a Presiding Officer and two other members, to be appointed, by notification, by the Central Government: Provided that the Securities Appellate Tribunal, consisting of one person only, established before the commencement of the Securities and Exchange Board of India (Amendment) Act, 2002, shall continue to exercise the jurisdiction, powers and authority conferred on it by or under this Act or any other law for the time being in force till two other Members are appointed under this section. Section 15 L was earlier substituted by the SEBI (Amendment) Act, 2002, w.e.f. 29-10-2002. Prior to their substitution, read as under:- 15-L. Composition of securities Appellate Tribunal. A Securities Appellate Tribunal shall consist of one person only (hereinafter referred to as the Presiding Officer of the Securities Appellate Tribunal) to be appointed, by notification, by the central Government.

G.S.R. 109 (E) - Dated: 12-2-2020 - Indian Law - Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules, 2020
S.O. 1750(E) - Dated: 16-5-2019 - SEBI - Central Government determines that the Securities Appellate Tribunal shall consist of a Presiding Officer, one Judicial Member and two Technical Members to exercise the powers and discharge the functions conferred on it under the SEBI Act 1992
G.S.R. 683(E) - Dated: 3-9-2015 - SEBI - Amendment in the Securities Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Presiding Officer and other Members) Rules, 2003.
S.O. 2130(E) - Dated: 11-7-2013 - SEBI - Central Government hereby appoints Justice Shri Jaiprakash P. Devadhar, former Justice of the Mumbai High Court as Presiding Officer of the Securities Appellate Tribunal, Mumbai for a period of five (5) years.
G.S.R. 369(E) - Dated: 12-6-2013 - SEBI - Amendment in the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of Presiding Officer and Other Members) Rules, 2003 in rule 4, 5, 6.
S.O. 417(E) - Dated: 20-2-2013 - SEBI - Central Government hereby appoints Shri Jog Singh as Member of the Securities Appellate Tribunal, Mumbai for a period of five years.
G.S.R. 410(E) - Dated: 12-6-2009 - SEBI - Appoints Shri Samar Ray, IA & AS (Retired), as Member, Securities Appellate Tribunal, Mumbai for a period of 5 years.
G.S.R. 335(E) - Dated: 9-5-2007 - SEBI - Appoints Shri Utpal Bhattacharya, IA & AS (Retired), as Member, Securities Appellate Tribunal, Mumbai.
G.S.R. 313(E) - Dated: 26-4-2007 - SEBI - Appoints Shri Arun Bhargava, IRS (IT) (Retired), as Member, Securities Appellate Tribunal, Mumbai.
G.S.R. 328(E)-F. No. 5/8/CM/2005 - Dated: 20-5-2005 - SEBI - Central Government appoints Shri R.N. Bhardwaj, Chairman, LIC, as Member of Securities Appellate Tribunal, Mumbai
F. No. 5/8/CM/2005-G.S.R. 329(E) - Dated: 20-5-2005 - SEBI - Central Government appoints Shri Chandan Bhattacharya, Ex- MD, State Bank of India as Member of Securities Appellate Tribunal, Mumbai
[F. No. 5/58/CM/2002]-G.S.R. 178(E) - Dated: 9-3-2004 - SEBI - Securities Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Presiding Officer and other Members) Rules, 2003.
F. No.5/51/CM/2002-S.O.173(E) - Dated: 6-2-2004 - SEBI - Central Government appoints Justice Kumar Rajaratnam, Chief Justice, High Court of Madhya Pradesh as Presiding Officer of Securities Appellate Tribunal, Mumbai
F. No. 5/2/CM/2003-G.S.R. 855(E) - Dated: 30-10-2003 - SEBI - Central Government appoints Shri N.L. Lakhanpal, Retired Secretary, Ministry of Home Affairs, Government of India, as Member of the Securities Appellate Tribunal, Mumbai
F. No. 5/2/CM/2003-G.S.R. 854(E) - Dated: 30-10-2003 - SEBI - Central Government appoints Dr. B. Samal, Retired Chairman and Managing Director, Allahabad Bank, as Member of the Securities Appellate Tribunal, Mumbai
File No. 5/30/CM/95-G.S.R. 424(E) - Dated: 28-7-1997 - SEBI - Central Government appoints Shri C Achuthan, Joint Secretary and Legal Adviser in the Ministry of Law and Justice, Department of Legal Affairs, as Presiding Officer of the Securities Appellate Tribunal, Mumbai