Supreme Court · 2017 INSC 206 · Decided 7 March 2017
National Securities Depository LTD. v. Securities and Exchange Board of India
- Court
- Supreme Court of India
- Citation
- 2017 INSC 206 · [2017] 4 S.C.R. 901
- Case number
- CIVIL APPEAL No. 5173/2006
- Decided
- 7 March 2017
- Bench
- PINAKI CHANDRA GHOSE, R.F. NARIMAN (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
Headnote
Securities and Exchange Board of India Act, 1992 - ss. 11(1), A B 12, 151, l 5M, l 5T, l 5Z and 30 - Whether an administrative circular issued by SEBI u/s. 11 (l) can be challenged in appeal before C Securities Appellate Tribunal u/s. l 5T - Held: SEBI is an expert body created by administrative, legislative and quasi-judicial functions - Under the Act, Appellate Tribunal is intended to hear appeals only against quasi-judicial orders - Thus, administrative orders such as circulars issued uls. 11 (1), as in the present case, are outside the appellate jurisdiction of the
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