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2. Securities Appellate
Tribunal was specifically
appointed to attend an
inducement against the
order handed by the SEBI
(Securities and Exchange
Board of India) or by an
adjudging officer under
the SEBI Act.
SECURITIES
AND EXCHANGE
BOARD
4. The Central Government will appoint
the presiding Officer of Securities
Appellate Tribunal in discussion with
the top justice of India or nominee.
The person so appointed as the
presiding officer.
The officer should meet the
preceding conditions:
5. THE RETIRED JUDGE OF THE SUPREME COURT
The retired or the sitting judge of the high court, who has
completed at least seven times of service as a judge in a high
court.
6. MEMBERS
The Central Government will
select the two members of
the Securities Appellate
Tribunal. The member so
appointed should retain the
preceding rates.
The member should be
suitable for dealing with
problems related to the
securities request.
The member should retain
qualifications and experience
related to marketable law,
securities laws, economics,
finance, or accountancy.
TERM
Presiding Officer The term for
Presiding Officer and for the
members will be five times from
the date of appointment.
7. Apply and summon the
attendance of any person.
Bear the discovery and
product of documents.
Admit validation on affidavits
Issue commissions for the
examination of the
documents or vouchers.
Dismiss an operation for
dereliction or decide ex-parte.
Set aside any order or
redundancy of any operation
for dereliction or any other
order passed by the ex-parte.
POWER OF
SECURITIES
APPELLATE
TRIBUNAL (SAT)
The Securities
Appellate Tribunal
(SAT) will have the
exact capabilities as
granted in a civil
court beneath the
law of the civil
system while testing
a case, with respect
of the primary
concerns.
8. ANY OTHER MATTER AS AND
WHEN SPECIFIED
WHO CAN APPEAL? / TIME LIMIT / APPEAR BEFORE
SAT / APPEAL AGAINST THE ORDERS OF SAT /
PROCEDURE FOR APPEAL
9. WHO CAN APPEAL?
·The Securities and Exchange Board
of India or convicting officer is
responsible to demand the
Securities Appellate Tribunal (SAT).
Report no request can be
completed to the Securities
Appellate Tribunal (SAT) against any
order made with the agreement of
the parties.
10. TIME LIMIT
Every Securities Appellate Tribunal plea
must be filed within 45 days from the day on
which a mark of the order passed by the
Securities and Exchange Board of India.
The appeal should be made in three
duplicates along with the fresh duplicates
for each fresh appeal, and that should be
signed by the authorized person.
On damage of the appeal, the Securities
Appellate Tribunal may confirm, modify or
set aside the order appealed against and an
analogous appeal should be disposed of
within six months from the date of damage
of analogous appeal.
11. As per the SEBI Act, any
sanctioned person is a Company
Secretary, Chartered Accountant
(CA), Cost Accountant or Legal
Practitioner can appear before
Securities Appellate Tribunal
(SAT).
APPEAR BEFORE SAT
Every person dissatisfied by any
order or decision of the Securities
Appellate Tribunal can file an
appeal to the Supreme Court.
The request only can be
completed on any question of
law.
The Supreme Court may further
allow sixty days for appealing if
it's satisfied that the applicant
was prevented from filing the
appeal within the first sixty days
due to sufficient cause.
APPEAL AGAINST THE ORDERS
OF SAT
12. An appeal should be presented in the specified form by
any dissatisfied person in the registry of the appellate
bench within whose governance falls or can be transferred
by registered post addressed to the Registrar. The appeal
transferred by post should be presented in the registry on
the same date on which it was entered in the registry.
PROCEDURE FOR APPEAL
13. Every appeal should be made along with an operation figure remitted in the
form of a Demand Draft drawn on any nationalized bank and an analogous
figure is outstanding at the place where the registry is located.
Small difficulties are primarily handled through agreement in a small claims
court. These difficulties vary depending on the people concerned. Common
difficulties analogous as hires and paycheck, alimony, and land cases are best
handled in big courts analogous to the high court. When you face small
difficulties analogous to debts and consumer claims, the swish court to handle
the matter is a small claims bench.
The swish thing about handling cases on a small claim bench is the fact that the
process involved is fast and affordable. You do not require a lawyer as you have
the freedom to define yourself. It's therefore important to prepare your case
well. As the plaintiff has the burden of substantiation and you need to show that
you have suffered financial loss and that the defendant is liable. Take advantage
of the backing the bench staff will offer you during the procedural.
SLATED FIGURE
14. Depending on which company you use for the debt collection process they
should help you with all the information you need to win the case. Remember
that the defendant is prepared to make you lose the case so medication is vital.
A good debt collection establishment has a platoon of attorneys that they work
with so that before you go before the small claims bench they will prepare you
on the stylish way to present your case to have an advanced chance of winning
it. Go for a company that doesn't charge you outspoken freights. Only pay after
you have recovered your plutocrat.
When you decide to file a claim in a small claim bench court make sure that you
follow due process and submit all the forms that are needed. The defendant will
be allowed to respond and present himself in front of the court to either accept
or deny the charges. You want the defendant to accept the claim. Make sure
that the substantiation that you have is proof enough to allow them to accept
the claim. There are times when the defendant ignores the claim that you can
apply for judgment at the bench and show that the defendant was served with
the claim and he ignored it. Remember that it's your burden as the complainant
to collect your compensation.
HOW AN ATTORNEY IS NEEDED FOR EVERY COMPANY?
15. There are cases where the defendant may deny the claim on a
small claims bench. When this happens, the agreement process
will be allowed. The register and the adjudicator will offer an
agreement when both parties differ about the claim. The best
thing about agreement is the fact that you're both allowed to
present your side of the story.
You'll also be suitable to communicate with the officers and allow
them to identify the issues involved and come up with a result. In
utmost cases, the complainant will be suitable to collect his
plutocrat and the defendant will be suitable to go home without
a record. It means that they both have an advantage when
settling their disagreement this way.
SUMMARY:
16. THANK YOU
FINLAW ASOCIATE
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