(Guest Post) Supreme Court: SAT has no jurisdiction to adjudicate on SEBI’s ‘Administrative Circulars’

This post is authored by Gaurav N Pingle, a practicing Company Secretary from Pune. He is associated as ‘Domain Consultant’ with CimplyFive Corporate Secretarial Services Pvt. Ltd. He is also visiting faculty for ‘Company Law’ at ILS Law College, Pune. Mr. Pingle can be contacted at gp@csgauravpingle.com. For more information on Mr. Pingle’s work, please visit www.csgauravpingle.com.

In a very interesting decision, the Supreme Court interpreted the provisions of SEBI Act (‘the Act’), and ruled on a contentious question – Whether administrative circular that is issued by SEBI under the Act can be the subject matter of appeal u/s 15T of the Act?

This article is an analysis of the Apex Court’s judgment in National Securities Depository Ltd. V. Securities and Exchange Board Of India [“NSDL v SEBI”] [dated March 7, 2017].

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Corporate debtors required to have initiated litigation/arbitration against creditor before receiving insolvency notice under S. 8(1) of IBC  

Earlier this month, the Mumbai Bench of the National Company Law Tribunal (NCLT) decided an important issue arising under the Insolvency and Bankruptcy Code, 2016 (the Code). This development was first reported here by Varun Marwah, an alumnus of ILS Law College, Pune. This matter was also extensively worked upon and argued before the NCLT by Vividh Tandon, associate, Cyril Amarchand Mangaldas, Mumbai. He is also an alumnus of ILS Law College, Pune. Continue reading