Market regulator’s success rate at Tribunal hits new record of 94%
With stronger regulatory teeth, the Securities and Exchange Board of India (Sebi) has been stepping up measures to deal with violations and illicit money pooling activities. While its orders can be challenged before SAT by the affected parties, the latest data shows that the Tribunal’s decision went in Sebi’s favour in 94 per cent cases during 2015-16.
This exceeds Sebi’s success rate of nearly 90 per cent in the previous fiscal 2014-15, as per the data compiled by the regulator. As many as 253 appeals filed against Sebi orders were dismissed by the Tribunal in 2015-16, much higher than 103 pleas rejected in 2014-15.
On the other hand, 27 appeals against Sebi orders were allowed in 2015-16 by the Tribunal, as against 17 in the preceding financial year. Besides, 4 appeals were modified during 2015-16, as against 17 in preceding year.