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Rediff.com  » Business » SAT to have full panel by Mar end

SAT to have full panel by Mar end

Source: PTI
March 01, 2005 16:08 IST
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The central government will soon appoint two members in the Securities Appellate Tribunal to complete the quorum by March end.

"The finance ministry has already moved the proposal to appoint two members for SAT and the appointments will take place by this month end," SAT sources said in Mumbai on Tuesday.

A committee of finance ministry is currently working on the procedures for filling the vacancies that would complete the quorum, the sources said.

At present, the three-member SAT is only left with its presiding officer Justice Kumar Rajaratnam as one member B Samal retired on Tuesday while the other member N L Lakhanpal retired on February 15.

As there the quorum was not full, SAT could not give final orders in the case regarding captial market, the sources added.

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