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Mumbai, Sept. 30 The Securities Appellate Tribunal (SAT) may have to function with only one member if the Government doesn’t appoint a replacement for the sitting member, Mr Arun Bhargava, who retires on October 15.

SAT has a three-member bench comprising presiding officer Justice Mr N.K. Sodhi and members Mr Bhargava and Mr Utpal Bhattacharya.

Mr Bhargava will retire when he turns 62, the maximum age allowed for a SAT member. The Government has not announced any successor for Mr Bhargava, according to the SAT office. The finance ministry selects members to SAT.

The Government has not amended the Act to extend the retiring age to 65 despite several appeals.

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