18-Feb-2023 10:53 PM
If the appeal is pending with SAT and SEBI passes an order before the appeal is being disposed by SAT. 1. Can SAT set aside the order of SEBI and pass a new order ? 2. Isn't SEBI's power in the given case overlapping the powers of SAT. As SEBI is given more power in the given case than SAT. 3. Isn't this provision hindering the entire process of Adjudication, as we talk about the hierarchy it states: Adjudicating officer or SEBI --> SAT --> Supreme court. Then how come an aggrieved party involving SEBI in the case, is SEBI passing the order suo moto or as a resolution to the appeal of the aggrieved party?