The High Court held that the petitioner bank should avail the ...

Bank told to appeal SEBI order at SAT instead of challenging regulator's private legal views via writ petition.

December 12, 2024

Case Laws     SEBI     HC

The High Court held that the petitioner bank should avail the alternate remedy of appeal u/s 15-T of the SEBI Act against SEBI's order dated January 11, 2023, instead of challenging SEBI's private communications expressing opinion on a legal provision through a writ petition. The Court granted liberty to the petitioner to file an appeal before the Securities Appellate Tribunal (SAT) within four weeks, and directed the SAT to dispose of the appeal on merits without considering the limitation issue. All contentions of parties on merits were left open to be decided by the SAT.

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