(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 :
9[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) In case the appellant does not appear in person or through an authorised representative when the appeal is called for hearing, the Securities Appellate Tribunal may dispose of the appeal on the merits :
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afterwards and satisfies the Securities Appellate Tribunal that there was sufficient cause for his nonappearance, when the appeal was called for hearing, the Securities Appellate Tribunal shall make an order setting aside the ex parte order and restore the appeal.
9. Inserted by the Securities Appellate Tribunal (Procedure) (Amendment) Rules, 2003, w.e.f.
31-10-2003.
10 [Dress regulations for the Presiding Officer, Members and for the representative of the parties]
17. 11[(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.]
(2) Every authorised representative, other than a relative or regular employee of the party shall appear before the Appellate Tribunal in his professional dress if any, and if there is no such dress, a male, in a suit or buttoned-up coat over a pant or national dress that is a long buttoned-up coat on dhoti or churidar pyjama, and a female, in a coat over white or any other sober coloured saree or in any other sober dress.
(3) All other persons appearing before the Appellate Tribunal shall be properly dressed.
10. Substituted by the Securities Appellate Tribunal (Procedure) (Amendment) Rules, 2003, w.e.f. 31-10-2003.
11. Substituted by the Securities Appellate Tribunal (Procedure) (Amendment) Rules, 2005, w.e.f. 31-1-2005. Prior to its substitution, sub-rule (1), as amended by the Securities Appellate Tribunal (Procedure) (Amendment) Rules, 2003, w.e.f. 31-10-2003, read as under :
"(1) The dress for the Presiding Officer and 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 the white saree."
Order to be signed and dated 12[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 interim orders or injunction, subject to reasons to be recorded in writing, which it considers necessary in the interest of justice.
(2) Orders shall be pronounced in the sitting of the Appellate Tribunal by the Presiding Officer or in case of the temporary absence of the Presiding Officer, by the Member authorized under sub-rule (2) of rule
5.]
12. Substituted by the Securities Appellate Tribunal (Procedure) (Amendment) Rules, 2003, w.e.f. 31-10-2003.
Publication of orders
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.
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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.
Orders and directions in certain cases
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.
Fee for inspection of records and obtaining copies thereof