Appendix 77
THE DEPOSITORIES (APPEAL TO SECURITIES APPELLATE TREBUNAL)
RULES, 2000
In exercise of the powers
conferred by section 24, read with section 23A, of the Depositories Act, 1996
(22 of 1996), the Central Government hereby makes the following rules, namely:
1. Short
title and commencement‑ (1) These rules may be called the Depositories (Appeal to Appellate Tribunal)
Rules, 2000.
(2) They shall come into force on the date
of their publication in the Official Gazette.
2. Definitions.- In these rules, unless the
context otherwise requires,
(a) 'Act' means the Depositories Act, 1996 (22 of 1996);
(b) "appeal" means an appeal preferred under section
23A of the Act;
(c) "Appellate Tribunal" means the
Securities Appellate Tribunal established under section 15K of the Securities
and Exchange Board of India Act, 1992 (15 of 1992);
(d) "form' 'means the form appended to these rules;
(e) "party" means a person who
prefers an appeal before the Appellate Tribunal and includes respondent;
(f) "Presiding Officee, means the
Presiding Officer of the Securities Appellate Tribunal appointed under section
15L of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(g) "rules" means the rules made under the Act;
(h) "Registrar" means the
Registrar of the Appellate Tribunal and includes an officer of such Appellate
Tribunal who is authorised by the Presiding Officer to function as Registrar;
(i) "registry" means the registry of the Appellate Tribunal.
(2) Words and expressions used and not
defined in these rules but defined in the Depositories Act, 1996, shall have
the meanings respectively assigned to them in that Act.
3. Limitation
for riling an appeal.‑ (1) An appeal may be preferred by the aggrieved
person within a period of forty‑five days from the date on which a copy
of the order, made by the Board under the Act or the regulations made there
under, is received by the person :
Provided that the Securities Appellate Tribunal may entertain
an appeal after the expiry of the said period of forty‑five days if it is
satisfied that there was sufficient cause for not filing it within that period.
4. Form
and procedure of appeal.‑ (1) A memorandum of appeal shall be presented in
the form by any aggrieved person in the registry of the Appellate Tribunal
within whose jurisdiction his case falls or shall be sent by registered post
addressed to the Registrar.
(2) A memorandum of appeal sent by post
shall be deemed to have been presented in the registry on the day it was
received in the registry.
5. Sittings
of Appellate Tribunal.‑ The Appellate Tribunal shall hold its sitting
either at a place where its office is situated or at such other place falling
within its jurisdiction, as it may deem fit by the Appellate Tribunal.
6. Language
of Appellate Tribunal.‑ (1) The proceedings of the Appellate Tribunal shall
be conducted in English or Hindi.
(2) No appeal, application, representation,
document or other matters contained in any language other than English or
Hindi, shall be accepted by the Appellate Tribunal, unless the same is
accompanied by a true copy of translation thereof in English or Hindi.
7. Appeal
to be in writing.- (1) Every appeal, application, reply, representation or any document
filed before the Appellate Tribunal shall be typewritten, cyclostyled or
printed neatly and legibly on one side of the good quality paper of fool scape
size in double space and separate sheets shall be stitched together and every
page shall be consecutively numbered and filed in the manner provided in sub‑rule
(2).
(2) The appeal under sub‑rule (1)
shall be presented in three sets in a paper book along with an empty file size
envelope bearing the full address of the respondent and in case the respondents
are more than one, then sufficient number of extra paper books together with
empty file size envelopes bearing full addresses of each respondent shall be
furnished by the appellant.
8. Presentation
and scrutiny of memorandum of appeal.‑ (1) The Registrar shall endorse on every
appeal the date on which it is presented under rule 4 or deemed to have been
presented under that rule and shall sign endorsement.
(2) If, on scrutiny, the appeal is found to
be in order, it shall be duly registered and given a serial number.
(3) If an appeal on scrutiny is found to be
defective and the defect noticed is formal in nature, the Registrar may allow
the appellant to rectify the same in his presence and if the said defect is not
formal in nature, the Registrar may allow the appellant such time to rectify
the defect as he may deem fit. If the appeal has been sent by post and found to
be defective, the Registrar may communicated the defects to the appellant and
allow the appellant such time to rectify the defect as he may deem fit.
(4) If the appellant fails to rectify the
defect within the time allowed in sub‑rule (3), the Registrar may by
order and for reasons to be recorded in writing, decline to register such
memorandum of appeal and communicate the order to the appellant within seven
days thereof.
(5) An appeal against the order of the
Registrar under sub‑rule (4) shall be made within fifteen days of
receiving of such order to the Presiding Officer concerned in his chamber,
whose decision thereon shall be final.
9. Payment
of Fees‑
(1) Every appeal shall be accompanies by a fee of rupees five thousand only.
(2) The amount of fees shall be remitted in
the form of crossed demand draft drawn on a nationalised bank in favour of
"the Registrar, Securities Appellate Tribunal" payable at the station
where the registry is located.
10. Contents
of memorandum of appeal.‑ (1) Every memorandum of appeal filed under rule 4
shall set forth concisely under distinct heads, the grounds of such appeal
without any argument or narrative, and such ground shall be numbered
consecutively and shall be in the manner provided in sub‑rule (1) of rule
7.
(2) It shall not be necessary to present
separate memorandum of appeal to seek interim order or direction if in the
memorandum of appeal, the same is prayed for.
11. Documents
to accompany memorandum of appeal.‑ (1) Every memorandum of appeal shall be in
triplicate and shall be accompanied by copies of the order, at least one of
which shall be a certified copy, against which the appeal is filed.
(2) Where
a party is represented by an authorised representative, a copy of the
authorisation to act as the authorised representative and the written consent
thereto by such authorised representative, shall be appended to the appeal.
12. Plural remedies.‑ A memorandum of appeal shall not seek relief or
reliefs therein against more than one order unless the reliefs prayed for are consequential.
13. Notice of appeal to the respondent.‑ (1) A copy of the memorandum of appeal and paper book shall be served by the
Registrar on the respondent as soon as they are registered in the registry, by
hand delivery, or by registered post or speed post.
14. Filing of reply to the appeal and other documents by the respondent‑ (1)
The respondent may
file three complete sets containing the reply to the appeal along with
documents in a paper book form with the registry within one month of the
service of the notice on him of the filing of the memorandum of appeal.
(2) Every reply, application or written
representation filed before the Appellate Tribunal shall be verified in the
manner provided for, in the form.
(3) A copy of every application, reply,
document or written material filed by the respondent before the Appellate
Tribunal shall be forthwith served on the appellant, by the respondent.
(4) The Appellate Tribunal may, in its
discretion, on application by the respondent allow the filing of reply referred
to in sub‑rule (1) after the expiry of the period referred to therein.
15. Date of hearing to be notifled.‑ The Appellate Tribunal shall notify the parties of
the date of hearing
of the appeal in such manner as the Presiding Officer may by general or special
order direct.
16. Hearing of appeal.‑ (1) On the day fixed or on any other day to which
the hearing may be adjourned, the appellant shall be heard in support of the appeal. The
Securities Appellate Tribunal shall, then, if necessary, hear the Board or its
authorised representative against the appeal, and in such case the appellant
shall be entitled to reply. During the course of the hearing of appeal the
written arguments could be supplemented by time‑bound oral arguments.
(2) In case the appellant does not appear in
person or through an authorised representative when the appeal is called for
hearing, the Securities Appellate Tribunal may dispose of the appeal on the
merits :
Provided that
where an appeal has been disposed of as provided above and the appellant
appears afterwards and satisfies the Securities Appellate Tribunal that there
was sufficient cause for his ron appearance, when the appeal was called for
hearing, the Securities Appellate Tribunal shall make an order setting aside
the ex parte order and restore the appeal.
17. Dress
regulations for the Presiding Officer and for the representatives of the parties.-
(1) The
dress for the Presiding Officershall be white or striped or black pant with
black coat over white shirt and black tie or a buttoned‑up black coat. In
the case of female Presiding Officer, the dress shall be black coat over the
white saree.
(2) Every authorised representative, other
than a relative or regular employee of the party shall appear before the
Appellate Tribunal in his professional dress if any, and if there is no such
dress, a male, in a suit or buttoned‑up coat over a pant or national
dress that is a long buttoned‑up coat on dhoti or churridar pyjama, and a
female, in a coat over white or any other sober coloured saree or in any other
sober dress.
(3) All other persons appearing before the Appellate Tribunal
shall be properly dressed.
18. Order to be
signed and dated.‑ (1) Every order of the Appellate Tribunal
shall be signed and dated by the Presiding Officer. The Presiding Officer will have powers
to pass interim orders or injunctions, subject to reasons to be recorded in
writing, which he considers necessary in the interest of justice.
(2) The order shall be pronounced in the sitting of the Appellate
Tribunal.
19. Publication of
orders.‑ The orders of the Appellate Tribunal, as are
deemed fit for publication in any authoritative report or the press may be released for such
publication on such terms and conditions as the Presiding Officer may lay down.
20. Communication
of orders.‑ A certified copy of every order passed by the
Appellate Tribunal shall be communicated to the Board, the Adjudicating Officer and to the
parties, as the case may be.
21. Orders and directions in certain cases.‑ The Appellate Tribunal may
make such orders or give such directions as may be necessary or expedient to give effect to its
orders or to prevent abuse of its process or to secure the ends of justice.
22. Fee for inspection of
records and obtaining copies thereof.‑ (1) A fee of rupees
twenty, for every
hour or part thereof of inspection subject to a minimum of rupees one hundred
shall be charged for inspecting the records of a pending appeal by a parry
thereto.
(2) A fee of rupees five for a folio or part
thereof involving typing and a fee of rupees ten for a folio or part thereof
involving typing of statement and figures shall be charged for providing copies
of the records of an appeal, to a party thereto.
23. Working hours of
the Appellate Tribunal.‑ (1) The office of the
Appellate Tribunal shall observe such public and other holidays as observed by the offices of
the Central Government in the locality where the office of the Appellate
Tribunal is situated.
(2) The Appellate Tribunal shall, subject to
any other order made by the Presiding Officer, remain open on working days from
10 a.m. to 6 p.m. but no work, unless of an urgent nature, shall be admitted
after 4.30 p.m. on any working day.
(3) The sitting hours of the Appellate
Tribunal shall ordinarily be from 10.30 a.m. to 1 p.m. and 2 p.m. to 5 p.m.,
subject to any order made by the Presiding Officer.
24. Holiday.‑ Where the last day for doing
any act falls on a day on which the office of the Appellate Tribunal is closed
and by reason thereof the act cannot be done on that day, it may be done on the
next day on which that office opens.
25. Functions of the Registrar.‑ (1) The Registrar shall discharge his functions
under general superintendence
of the Presiding Officer. He shall discharge such other functions as are
assigned to him under these rules or by the Presiding Officer by a separate
order in writing.
(2) He shall have the custody of the records of the Appellate
Tribunal.
(3) The official seal of the Appellate Tribunal shall be kept in
the custody of the Registrar.
(4) Subject to any general or special
direction by the Presiding Officer, the official seal of the Appellate Tribunal
shall not be affixed to any order, summons or other process save under the
authority in writing from the Registrar.
(5) The official seal of the Appellate
Tribunal shall not be affixed to any certified copy issued by the Appellate
Tribunal, save under the authority in writing of the Registrar.
26. Additional
functions and duties of Registrar.‑ In addition to the
functions and duties assigned in the rules, the Registrar shall have the following functions
and duties subject to any general or special orders of the Presiding Officer
namely :
(1) to receive all appeals, replies and other documents;
(2) to decide all questions arising out of
the scrutiny of the appeals before they are registered;
(3) to require any appeal presented to the
Appellate Tribunal to be amended in accordance with the rules;
(4) subject to the directions of the
Presiding Officer to fix the date of hearing of the appeals or other
proceedings and issue notices thereof;
(5) to direct any formal amendment of records;
(6) to order grant of copies of documents to parties to
proceedings;
(7) to grant leave to inspect the record of the Appellate
Tribunal;
(8) to dispose of all matters relating to
the service of notices or other processes, application for the issue of fresh
notice or for extending the time for or ordering a particular method of service
on a respondent including a substituted service by publication of the notice by
way of advertisement in the newspapers;
(9) to requisition records from the custody of any court or other
authority.
27. Seal and emblem.‑ The official seal and
emblem of the Appellate Tribunal shall be such as the Central Government may
specify.
28. Repeal and saving.‑ (1) The Depositories
(Appeal to the Central Government) Rules, 1998 are hereby repealed.
(2) Notwithstanding such repeal anything
done or any action taken under the said rules, shall be deemed to have been
done or taken under the corresponding provisions of these rules.
[F.No. 1/69/SE/98]
FORM
(See rule 4)
Memorandum of Appeal
For use in Appellate
Tribunal's office :
Date of presentation in the
registry :
Date of receipt by post :
Registration number :
Signature :
Registrar :
Before the Securities
Appellate Tribunal.
In the matter of the
Depositories Act, 1996 (22 of 1996)
and
In the matter of appeal
against the order made on __________________________________________ by
______________________________________
A.B.‑appellant
C.D. and other
respondent(s).
Details of appeal :
1. Particulars of the appellant:
(i) Name of the appellant;
(ii) Address of registered office of the appellant;
(iii) Address of service of all notices;
(iv) Telephone/Fax number and E‑mail address, if any.
2. Particulars of the respondent(s) :
(i) Name of the respondent(s);
(ii) Office Address of the respondent(s);
(iii) Address of respondent(s) for service of all notices;
(iv) Telephone/Fax number and E‑mail address, if any.
3. Jurisdiction of the Appellate Tribunal.‑
The appellant declares that the matter of appeal falls within the jurisdiction
of the Appellate Tribunal.
4. Limitation.‑ The appellant
further declares that the appeal is within the limitation as prescribed in
section 23D of the Depositories Act, 1996 (22 of 1996).
5. Facts of the case and the details of the order against which
appeal is filed:
The facts of the
case are given below
(give here a concise
statement of facts and grounds of appeal against the specified order in a
chronological order, each paragraph containing as neatly as possible as
separate issue, fact or otherwise).
6. Relief(s) sought.‑ In view of the
facts mentioned in paragraph 5 above, the appellant prays for the following
relief(s) (specify below the relief(s) sought, explain the grounds for
relief(s) and the legal provisions, if any, relied upon).
7. Interim order, if prayed for.‑
Pending final decision of the appeal the appellant seeks issue of the following
interim order:
(give here the
nature of the interim order prayed for with reasons).
8. Matter not pending with any other
court, etc.‑ The appellant further declares that the matter regarding
which this appeal has been made is not pending before any court of law or any
other authority or any other Tribunal.
9. Particulars in respect of the fee paid
in terms of rule 9 of these rules :-
(1) Amount of fees;
(2) Name of the bank on which Demand Draft is drawn;
(3) Demand Draft number.
10. Details of index.‑ An index
containing the details of the documents to be relied upon is enclosed.
11. List of enclosures.
Signature of the
appellant/authorised representative
VERIFICATION
I,
____________________________________________________ son/daughter/wife of (Name
in block letters) Shri ___________________________________________________
being the appellant/ authorised representative of
_______________________________________________ do hereby verify
(Name of the appellant)
that the contents of paras.
1 to 11 are true to my personal knowledge and belief and that I have not
suppressed any material facts.
Signature of the
appellant/authorised representative
Place :
Date :
To
The Registrar
________________________
________________________
________________________