May 30, 2024
  • Justice (retired) Dinesh Kumar took charge as the Presiding Officer of the Securities Appellate Tribunal (SAT) on 29 April 2024. The government of India appointed Justice Dinesh Kumar for a four-year term.
  • Before taking over as the presiding officer of SAT, Justice Dinesh Kumar was the chief justice of the Karnataka High Court. He retired from the post in February 2024.
  • He replaced Tarun Aggarwal, who retired in December 2023.
  • Dheeraj Bhatnagar also took charge as the technical member of the tribunal. He has been appointed for a term of four years or till he reaches the age of 67, whichever is earlier. Dheeraj Bhatnagar retired as principal chief commissioner of Income Tax Delhi.
  • The other member of the three-member SAT is Meera Swarup.

ABOUT SAT:

  • The Securities Appellate Tribunal is a statutory body established in 1992 under the provisions of the Securities Exchange Board of India Act 1992.
  • The SAT consist of a Presiding Officer and other judicial and technical members.

FUNCTIONS OF SAT

  • The Securities Appellate Tribunal was set up to replace the High Court. It hears appeals against the following financial regulators.
    • Orders and rulings of the capital market regulator, Securities Exchange Board of India (SEBI).
    • Orders and rulings of the pension sector regulator Pension Fund Regulatory and Development Authority (PFRDA).
    • Orders and rulings of the Insurance sector regulator Insurance Regulatory Development Authority of India (IRDAI).
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