Section 23L of SCRA : Section 23L: Appeal To Securities Appellate Tribunal

SCRA

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Explanation using Example

Imagine that a stockbroker, Mr. Kumar, has been penalized by a recognized stock exchange for not complying with certain regulations. Dissatisfied with the exchange's decision, Mr. Kumar decides to challenge the penalty. According to Section 23L(1) of the Securities Contracts (Regulation) Act, 1956, he has the right to appeal against the order to the Securities Appellate Tribunal (SAT).

Mr. Kumar must file his appeal within 45 days of receiving the order, as stated in Section 23L(2). However, if he misses t...

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