NISM-Series IX: Merchant Banking Certification Exam Notes
Page 17 Of 79
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SAT Composition: Presiding officer (Supreme Court/High Court judge) and two members.
SAT Appeal Period: 45 days from receipt of SEBI order.
SAT Powers: Similar to civil courts, e.g., summoning witnesses, reviewing decisions.
SAT Procedure: Guided by natural justice, not bound by Code of Civil Procedure.
Appeal to Supreme Court: Within 60 days of SAT order on questions of law.
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