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Question

According to the SEBI Act the Securities Appellate Tribunal shall________________

A Be bound by the procedure laid down by the code of Civil Procedure, 1908 Correct Answer Incorrect Answer
B Not be bound by the procedure laid down by the code of Civil Procedure, 1908 Correct Answer Incorrect Answer
C Not be bound by the procedure laid down by the code of Civil Procedure, 1908, and shall not be guided by the principles of natural justice Correct Answer Incorrect Answer
D Be bound by the procedure laid down by the code of Civil Procedure, 1908, as well as be guided by the principles of natural justice Correct Answer Incorrect Answer
E Not be bound by the procedure laid down by the code of Civil Procedure, 1908, but shall be guided by the principles of natural justice Correct Answer Incorrect Answer

Solution

Section 15U.   Procedure and powers of the Securities Appellate Tribunal: (1) The Securities Appellate Tribunal shall not be bound by the procedure laid down by the code of Civil Procedure, 1908, but shall be guided by the principles of natural justice and, subject to the other provisions of this Act and of any rules, the Securities Appellate Tribunal shall have powers to regulate their own procedure including the places at which they shall have their sittings.

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