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    Mano Felix
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    All types of SEBI orders can be challenged before SAT according to an initial SAT judgment that interpreted the term "order" in the SEBI Act broadly to include administrative, legislative, and quasi-judicial orders. However, the Supreme Court later reversed this SAT verdict, ruling that only quasi-judicial SEBI orders are subject to challenge at SAT.

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    All types of SEBI orders can be challenged before SAT according to an initial SAT judgment that interpreted the term "order" in the SEBI Act broadly to include administrative, legislative, and quasi-judicial orders. However, the Supreme Court later reversed this SAT verdict, ruling that only quasi-judicial SEBI orders are subject to challenge at SAT.

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    5 views1 page

    Securities Law

    Uploaded by

    Mano Felix
    All types of SEBI orders can be challenged before SAT according to an initial SAT judgment that interpreted the term "order" in the SEBI Act broadly to include administrative, legislative, and quasi-judicial orders. However, the Supreme Court later reversed this SAT verdict, ruling that only quasi-judicial SEBI orders are subject to challenge at SAT.

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    © All Rights Reserved
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    of 1

    1.

    According to the SAT order, what kind of SEBI orders can


    be challenged before SAT and why?

    Under the SEBI Act, SEBI has administrative, legislative and quasi-judicial functions. All kinds
    of SEBI orders can be challenged according to SAT judgment, because SAT had ruled that the
    term "order" in SEBI Act is extremely wide, and can be applied in all three types of orders-
    administrative orders, legislative orders, and quasi-judicial orders. SEBI challenged SAT's
    verdict in the Supreme Court and secured a reversal. The Supreme Court, in the order passed on
    March, said that only "quasi-judicial" orders and decisions are a "subject of SAT".

    - A. MANORANJAN(BC0150014)

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