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SAT Judicial Member: The Central Government has selected Justice Mayank Kumar Jain as the second judicial member of the Securities Appellate Tribunal (SAT). He has been a judge in Allahabad High Court. He will remain in this post for four years or until he turns 67 years old. His appointment was formalized in a notification issued by the Finance Ministry in the Official Gazette on January 3.
SAT works under the Finance Ministry
SAT is a statutory body set up under the Securities and Exchange Board of India (SEBI) Act, to hear appeals against orders passed by SEBI, Insurance Regulatory and Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA). They have to be dealt with. It keeps an eye on any kind of market manipulation, trading and violation of rules as well as handles other matters under the jurisdiction of SEBI. SAT works under the Finance Ministry and has only one branch in Mumbai.
Till now SAT used to work with single bench
At present, SAT works with a single bench headed by former Karnataka High Court judge Dinesh Kumar. He assumed this responsibility in April 2024. Other technical members of SAT are Meera Swarup and Dheeraj Bhatnagar. The inclusion of Justice Mayank Kumar Jain in SAT will help in solving the increasing cases as quickly as possible.
Justice Mayank started his career in 1990
After completing his graduation in law from Meerut University in 1984, he started his practice in civil law in Muzaffarnagar. His judicial career started in 1990. At that time he was appointed as Munsif. By December 2008, he was promoted to the Higher Judicial Services (HJS) cadre. After this he took charge of many important posts. These included working as a member of the Commercial Tax Tribunal in Meerut as well as holding division benches in cities like Ghaziabad, Saharanpur and Bareilly. He retired in November 2024.
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