SAT may have to hear afresh many important cases

The Securities Appellate Tribunal (SAT) may have to hear afresh cases involving Sahara India, Bombay Dyeing and Franklin Templeton among several others, as two of its three members including the presiding officer retired before the final orders could be delivered...

Lawyers expect potential delays in the appellate body pronouncing its orders in these cases, which will have to be heard again when the new members come in...

Six matters that were fully heard and reserved for orders last year by the earlier presiding officer Tarun Agarwala, including the Sahara India Commercial Corporation, Bombay Dyeing and Franklin Templeton cases, were listed on the SAT board recently to give dates for re-hearing, several lawyers told ET...

The SAT bench constitutes a presiding officer, who will be a retired judge, along with two members - one judicial and one technical.. "Before delivering judgement, if one of the members who had heard the said matter demits office, the matter as per general rule of law has to be relisted and re-heard," said Jitendra Motwani, partner, Economic Laws Practice..

In January first week, a three-member Supreme Court bench headed by chief justice DY Chandrachud, while disposing of a petition filed by a few advocates on the SAT bench, noted that the government had taken steps to facilitate a fresh appointment..

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