Securities Appellate Tribunal

Securities Appellate Tribunal

News: Recently, the Securities Appellate Tribunal (SAT) quashed the order passed by the Securities and Exchange Board of India (SEBI) cancelling Brickwork Ratings' licence as a credit rating agency.

About:
 It is a statutory body established under the provisions of the Securities and Exchange Board of India Act, 1992.
 It hears and disposes of appeals against orders passed by the Securities and Exchange Board of India, the Pension Fund Regulatory and Development Authority (PFRDA) and the Insurance Regulatory Development Authority of India (IRDAI).
 It has the same powers as vested in a civil court under the code of civil procedure while trying a suit.

Composition:
 It consists of a Presiding Officer & Two other members.
 The Presiding officer shall be appointed by the Central Government in consultation with the Chief Justice of India or his nominee.