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Section 20: Appeals.

The Securities and Exchange Board of India Act, 1992Central Act · Act 15 of 1992

(1) Any person aggrieved by [an order of the Board made, before the commencement of the Securities Laws (Second Amendment) Act, 1999 (32 of 1999)], under this Act, or the rules or regulations made thereunder may prefer an appeal to the Central Government within such time as may be prescribed.

(2) No appeal shall be admitted if it is preferred after the expiry of the period prescribed therefor:

Provided that an appeal may be admitted after the expiry of the period prescribed therefor if the appellant satisfies the Central Government that he had sufficient cause for not preferring the appeal within the prescribed period.

(3) Every appeal made under this section shall be made in such form and shall be accompanied by a copy of the order appealed against and by such fees as may be prescribed.

(4) The procedure for disposing of an appeal shall be such as may be prescribed:

Provided that before disposing of an appeal, the appellant shall be given a reasonable opportunity of being heard.

Where this provision sits

ActThe Securities and Exchange Board of India Act, 1992
Section20
Marginal noteAppeals.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 32 of 1999. . Subs. by Act 32 of 1999, s. 11, for "an order of the Board made" (w.e.f. 16-12-1999).

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