SEBI,Securities Appellate Tribunal,Functioning,qualifications,

SAT(Securities Appellate Tribunal) And securities Exchange Board of India.

Securities appellate tribunal

Hey what's up guys in this post I want to give you guys a little bit information on SEBI  Securities Exchange Board of India and Securities appellate tribunal.

 Now this is something which you guys need to know from because it's one of the most powerful institutions this country has ever seen okay so it's important that you know what SEBI is and why we require such a powerful institution in this country so let's get started.

 NOW WHAT IS SEBI?

SEBI is a statutory company which has been established to regulate the stock markets in India.

Now why did they feel the requirement to set up?

 SEBI the stock markets in India have had a complicated history okay for example we did not have a proper regulation for Bombay Stock Exchange until 1980 the government of India could not even regulate Bombay Stock Exchange until 1980 and the reason is that because fiddle-dee-dee boy happened to pass away in 1980 and only after he passed away could the government actually gain control.Even after when the government gain control of Bombay Stock Exchange there were a lot of things in the market which went unregulated and you had quite a few scams which went on to happen like this like for example you had the Harshad Mehta gated barracks camp.Now in these camps of the value of the money which was laundered runs into several thousand crores that these guys were able to jack up the stock markets to such a big extent they were able to do that only because of lack of regulation. And that's to tell you how bad the stock markets were in terms of regulation once upon a time so you had a semi established so that they can be proper order into the chaos that was there in the Indian capital markets okay SEBI came into power in 1992. It is one of the most powerful company country.

 Now why do I say it's one of the most powerful companies ?now when I go about telling you about what said it does in terms of functions you will see how powerful this institution can really get and in fact how many companies are forced to comply with the provisions of the regulations which SEBI has put forth okay.


 Now coming to the various functions and powers of SEBI  this is where you guys would realize how powerful this institution is-


Powers of SEBI

1) Approve the by-laws of stock exchanges.


2)Compel specific companies to make their shares available in one or more stock exchanges.

3)Delegate powers that can be executed.

4)Enquire the stock exchanges so that they amend their bye-laws as required.

5)Grant licenses to any person so that they can deal with the securities at specific places.


6)Impose monetary penalties.

SECURITIES APPELLATE TRIBUNAL

Securities Appellate Tribunal is a statutory Body established by the Central government under the provisions of Section 15k of the SEBI(Stock exchange Board Of India)Act 1992.

FUNCTIONING OF SAT

The main function  of SAT is to hear and dispose the  appeals against orders passed by the Securities and Exchange Board of India or by an Adjudicating officer or by any other law for time being in forced under this act.

SAT exercises it's jurisdiction,powers,and authority as conferred by the SEBI .The central government has set up a tribunal at Mumbai.

Composition of Securities Appellate Tribunal

Section 15(L)of the SEBI act provides that SAT shall consist of a presiding Officer and two other members, which are appointed by the central government.

Qualifications for appointment as Presiding officer Section 15(m)

Section 15(m) provides following qualifications for appointment as the Presiding officer of SAT

(a) Person must be sitting or retired judge of the supreme court; or

(b) Person must be sitting or retired judge of high court who has completed not less than seven years of service as a judge in a high court .

(c) is a sitting or retired chief justice of a high court.

For the appointment of presiding officer the central government must consult with the chief justice of India or his nominees.

Qualifications of members

(a)person of ability ,integrity and standing who has shown capacity in dealing with problems relating to Securities market ; and

(b)He has qualifications and experience of corporate law , securities law,finance, economics or accountancy.
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SECURITIES APPELLATE TRIBUNAL