Justice Dinesh Kumar Appointed as Presiding Officer of Securities Appellate Tribunal
| Aspect | Details |
|---|---|
| Appointment | Justice (retired) Dinesh Kumar appointed as Presiding Officer of SAT on 29 April 2024. |
| Term | Four-year term. |
| Previous Role | Chief Justice of Karnataka High Court (retired in February 2024). |
| Vacancy | SAT functioned without a presiding officer for four months after Justice Tarun Aggarwal retired in December 2023. |
| Other Appointee | Dheeraj Bhatnagar appointed as Technical Member for four years or till age 67 (whichever is earlier). |
| Current Members | Presiding Officer: Justice Dinesh Kumar; Technical Member: Dheeraj Bhatnagar; Judicial Member: Meera Swarup. |
| About SAT | Statutory body established in 1992 under the SEBI Act 1992. |
| Functions | Hears appeals against orders of SEBI, PFRDA, and IRDAI. |
| Composition | Presiding Officer (Justice Dinesh Kumar) and two other members. |
| Presiding Officer Qualification | Retired or sitting judge of the Supreme Court or Chief Justice of a High Court. |
| Judicial Member Qualification | Age ≥ 50; former High Court judge or advocate with 10+ years of financial sector litigation experience. |
| Technical Member Qualification | Senior government official (e.g., Secretary) or professional with 15+ years of financial sector experience. |
| Appointment Process | Government of India appoints in consultation with Chief Justice of India. |
| Tenure | Five-year term, extendable by another five; maximum age 70 years. |
| Jurisdiction | Nationwide; bench located in Mumbai. |
| Appeal Process | SAT rulings can only be challenged in the Supreme Court. |