Sebi scores big in SAT

Sebi's success rate in Securities Appellate Tribunal was as high as 90% in 2014-15

 

The Securities and Exchange Board of India (Sebi)'s success rate in the Securities Appellate Tribunal (SAT) was as high as 90 per cent in 2014-15, data show.

SAT is a quasi-judicial body that hears appeals of those aggrieved by Sebi orders.

While Sebi has also drawn flak from the appellate tribunal in certain high-profile cases, its overall record has been impressive.

Improved surveillance systems, investigation and quality of orders have contributed.

"There is a misconception that Sebi's orders get set aside. Our success rate is much better than any other regulator. We are making great efforts to ensure this success rate. We keep holding seminars with senior lawyers of the Supreme Court and with our own teams, where we brainstorm what needs to be done to improve the quality of our orders. The quality of our orders has improved tremendously in recent years," Sebi Chairman U K Sinha had said last month, when asked about the regulator's track record before SAT.