The Hindu Business Line : SAT fees for appeals against adjudication orders modified

THE Centre has modified the fees payable to the Securities Appellate Tribunal (SAT) on appeals made against the adjudication orders passed under Chapter VIA of the SEBI Act. It has now capped the fees payable for such appeals at Rs 1.5 lakh.

Currently, the quantum of fees payable to SAT is linked to the level of penalty imposed. For penalty of less than Rs 10,000, the fee payable is pegged at Rs 500. If the penalty is Rs 10,000 or more but less than Rs 1 lakh, the fee payable is Rs 1,200. In cases where the penalty is Rs 1 lakh or more, the penalty has been pegged at "Rs 1,200 plus Rs 1,000 for every additional Rs 1 lakh of penalty or fraction thereof."

The Centre has amended the rules on SAT procedure to specify that the fee payable with respect to penalty of Rs 1 lakh or more would be "Rs 1,200 plus Rs 500 for every additional Rs 1 lakh of penalty or fraction thereof, subject to a maximum of Rs 1,50,000."

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