DEPOSITORIES (APPEAL TO SECURITIES APPELLATE TRIBUNAL) RULES, 2000

1 · (1) These rules may be called the Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000.

2 · (1) In these rules, unless the context otherwise requires,—

1 · [(da) ' Member' means the Member of the Securities Appellate Tribunal appointed under section 15L of the Securities and Exchange Board of India Act, 1992 (15 of 1992).]

2 · [(h)"Registrar" means the Registrar of the Appellate Tribunal and includes an officer of such Appellate Tribunal who is authorised by the Presiding Officer to function as Registrar;]

3 · An appeal may be preferred by the aggrieved person within a period of forty-five days from the date on which a copy of the order, made by the Board under the Act or the regulations made thereunder, is received by the person :

1 · Inserted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005.

2 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2000, w.e.f. 27.7.2001.

4 · (1) A memorandum of appeal shall be presented in the Form by any aggrieved person in the registry of the Appellate Tribunal within whose jurisdiction his case falls or shall be sent by registered post addressed to the Registrar.

5 · 1 [1] The Appellate Tribunal shall hold its sitting either at a place where its office is situated or at such other place falling within its jurisdiction, as it may deem fit by the Appellate Tribunal.

2 · [(2) In the temporary absence of the Presiding Officer, Government may authorise one of the two other members to preside over the sitting of the Tribunal either at a place where its office is situated or at such other place falling within its jurisdiction as it may deem fit by the Appellate Tribunal . ]

6 · (1) The proceedings of the Appellate Tribunal shall be conducted in English or Hindi.

7 · (1) Every appeal, application, reply, representation or any document filed before the Appellate Tribunal shall be typewritten, cyclostyled or printed neatly and legibly on one side of the good quality paper of foolscap size in double space and separate sheets shall be stitched together and every page shall be consecutively numbered and filed in the manner provided in sub-rule (2).

8 · (1) The Registrar shall endorse on every appeal the date on which it is presented under rule 4 or deemed to have been presented under that rule and shall sign endorsement.

1 · Rule 5 numbered as sub -rule (1) by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005.

2 · Inserted by the Depositories ( Appeal to Securities Appellate Tribunal) ( Amendment) Rules, 2005, w.e.f. 31.1.2005

3 · Substituted for " 3" by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005.

1 · [(5) An appeal against the order of the Registrar under sub-rule (4) shall be made within 15 days of receiving of such order to the Presiding Officer or in his temporary absence, to the Member authorized under sub -rule (2) of rule 5, whose decision thereon shall be final.]

2 · [(1) Every memorandum of appeal shall be accompanied with a fee as provided in sub -rule (2) and such fee may be remitted in the form of crossed demand draft drawn on any nationalized bank in favour of " The Registrar, Securities Appellate Tribunal" payable at the station where the registry is located.

1 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005. Prior to its substitution, sub -rule (5) read as under:-

2 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005. Prior to its substitution, sub -rule (1) and (2) read as under:-

10 · (1) Every memorandum of appeal filed under rule 4 shall set forth concisely under distinct heads, the grounds of such appeal without any argument or narrative, and such ground shall be numbered consecutively and shall be in the manner provided in sub-rule (1) of rule 7.

11 · 1 [(1) Every memorandum of appeal shall be in five copies and shall be accompanied with copies of the order, at least one of which shall be a certified copy, against which the appeal is filed . ]

12 · A memorandum of appeal shall not seek relief or reliefs therein against more than one order unless the reliefs prayed for are consequential.

13 · Copy of the memorandum of appeal and paper book shall be served by the Registrar on the respondent as soon as they are registered in the registry, by hand delivery, or by Registered Post or Speed Post.

14 · (1) The respondent may file 2 [five] complete sets containing the reply to the appeal along with documents in a paper book form with the registry within one month of the service of the notice on him of the filing of the memorandum of appeal.

15 · The Appellate Tribunal shall notify the parties the date of hearing of the appeal in such manner as the Presiding Officer may by general or special order direct.

1 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005. Prior to its substitution , sub -rule (1) read as under:-

2 · Substituted for " three" by the Depositiories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005.

16 · (1) On the day fixed or on any other day to which the hearing may be adjourned, the appellant shall be heard in support of the appeal. The Securities Appellate Tribunal shall, then, if necessary, hear the Board or its authorised representative against the appeal, and in such case the appellant shall be entitled to reply. During the course of the hearing of appeal the written arguments could be supplemented by time-bound oral arguments.

1 · [Provided that in case of temporary absence of the Presiding Officer or of the Member authorised by the Government under sub-rule (2) of rule 5, the Presiding Officer can authorise the other Member present on that day to hear the Board or authorised representative against the appeal.]

2 · [Dress regulations for the Presiding Officer, Members and for the representative of the parties

17 · (1) The dress of the Presiding Officer shall be white or striped or black pant with black coat over white shirt and band or buttoned up black coat and band. The dress for the two other Members shall be white or striped or black pant with black coat over white shirt and black tie or buttoned up black coat. In the case of a female Presiding Officer or a Member, the dress shall be black coat over a white saree.

1 · Inserted by the Depositories ( Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005

2 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005. Prior to its substitution, rule 17 read as under: -

1 · [Order to be signed and dated

18 · (1) Every order of the Appellate Tribunal shall be signed and dated by the Presiding Officer and the two other Members. The Presiding Officer will have powers to pass such interim orders or injunctions, subject to reasons to be recorded in writing, which it considers necessary in the interest of justice.

19 · The orders of the Appellate Tribunal, as are deemed fit for publication in any authoritative report or the press may be released for such publication on such terms and conditions as the Presiding Officer may lay down.

20 · A certified copy of every order passed by the Appellate Tribunal shall be communicated to the Board, the Adjudicating Officer and to the parties, as the case may be.

21 · The Appellate Tribunal may make such orders or give such directions as may be necessary or expedient to give effect to its orders or to prevent abuse of its process or to secure the ends of justice.

22 · (1) A fee of rupees twenty, for every hour or part thereof of inspection subject to a minimum of rupees one hundred shall be charged for inspecting the records of a pending appeal by a party thereto.

23 · (1) The office of the Appellate Tribunal shall observe such public and other holidays as observed by the offices of the Central Government in the locality where the office of the Appellate Tribunal is situated.

1 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005, w.e.f. 31.1.2005. Prior to its substitution, rule 18 read as under: -

24 · Where the last day for doing any act falls on a day on which the office of the Appellate Tribunal is closed and by reason thereof the act cannot be done on that day, it may be done on the next day on which that office opens.

25 · 1 [(1) The Registrar shall discharge his functions under the general superintendence of the Presiding Officer or in the temporary absence of the Presiding Officer, the Member authorized under sub -rule (2) of rule 5. He shall discharge such other functions as are assigned to him under these rules by the Presiding Officer or in the temporary absence of the Presiding Officer, by the Member authorized under sub-rule (2) of rule 5, by a separate order in writing];

2 · [(4) Subject to any general or special direction by the Presiding Office, or in the temporary absence of the Presiding Officer, the Member authorized under sub-rule (2) of rule 5, the official seal of the Appellate Tribunal shall not be affixed to any order, summons or other process save under the authority in writing from the Registrar . ]

3 · [Additional functions and duties of Registrar

1 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005 w.e.f. 31.1.2005. Prior to its substitution, sub -rule (1) read as under:

2 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005 w.e.f. 31.1.2005. Prior to its substitution, sub -rule (4) read as under:

3 · Substituted by the Depositories (Appeal to Securities Appellate Tribunal) (Amendment) Rules, 2005 w.e.f. 31.1.2005. Prior to its substitution, rule 26 read as under:

26 · In addition to the functions and duties assigned in the rules, the Registrar shall have the following functions and duties subject to any general or special order of the Presiding Officer or in his temporary absence, the Member authorized under sub-rule (2) of rule 5, namely :—

27 · The official seal and emblem of the Appellate Tribunal shall be such as the Central Government may specify.

28 · (1) The Depositories (Appeal to the Central Government) Rules, 1998 are hereby repealed.

1 · Particulars of the appellant:

2 · Particulars of the respondent(s):