Securities Appellate Tribunal
Topic: Justice Delivery: Subordinate Courts, Tribunals, Legal Aid and Judicial Reforms · NCERT: Beyond NCERT
Meaning
The Securities Appellate Tribunal (SAT) is a tribunal set up under the SEBI Act 1992. A tribunal is a special body that decides disputes in one field, outside the regular courts. SAT hears appeals against the orders of three regulators: SEBI (stock markets), IRDAI (insurance) and PFRDA (pensions). It lets people challenge these regulators before experts, without first going to a High Court.
Example
Suppose SEBI fines a company for misleading investors. The company can appeal to SAT. An insurer unhappy with an IRDAI order can do the same.
Don't confuse with
- National Company Law Appellate Tribunal (NCLAT): NCLAT hears appeals from the NCLT, IBBI, CCI and NFRA. SAT hears appeals against SEBI, IRDAI and PFRDA.
Related concepts
- National Green Tribunal
- National Company Law Tribunal
- National Company Law Appellate Tribunal
- Debt Recovery Tribunal
- Income Tax Appellate Tribunal
- GST Appellate Tribunal
- Armed Forces Tribunal
- Consumer Disputes Redressal Commissions