Section 18 in The Securities and Exchange Board of India Act, 1992
Title: Returns and reports
(1) The Board shall furnish to the Central Government at such time and in such form and manner as may be prescribed or as the Central Government may direct, such returns and statements and such particulars in regard to any proposed or existing programme for the promotion and development of the securities market, as the Central Government may, from time to time, require.
(2) Without prejudice to the provisions of sub-section (1), the Board shall, within 1[ ninety days] after the end of each financial year, submit to the Central Government a report in such form, as may be prescribed, giving a true and full account of its activities, policy and programmes during the previous financial year.
(3) A copy of the report received under sub-section (2) shall be laid, as soon as may be after it is received, before each House of Parliament.
1. Subs. by Act 9 of 1995, s. 10, for sixty days (w.e.f. 25-1-1995).
The Board may, by general or special order in writing delegate to any member, officer of the Board or any other person subject to such conditions, if any, as may be specified in the order, such of its powers and functions under this Act (except the powers under section 29) as it may deem necessary.
(1) Any person aggrieved by 1[an order of the Board made, before the commencement of the Securities Laws (Second Amendment) Act, 1999 (32 of 1999)], under this Act, or the rules or regulations made thereunder may prefer an appeal to the Central Government within such time as may be prescribed.
(2) No appeal shall be admitted if it is preferred after the expiry of the period prescribed therefor:
Provided that an appeal may be admitted after the expiry of the period prescribed therefor if the appellant satisfies the Central Government that he had sufficient cause for not preferring the appeal within the prescribed period.
(3) Every appeal made under this section shall be made in such form and shall be accompanied by a copy of the order appealed against and by such fees as may be prescribed.
(4) The procedure for disposing of an appeal shall be such as may be prescribed:
Provided that before disposing of an appeal, the appellant shall be given a reasonable opportunity of being heard.
1. Subs. by Act 32 of 1999, s. 11, for "an order of the Board made" (w.e.f. 16-12-1999).
Title: Bar of jurisdiction
1[20A. Bar of jurisdiction.--No order passed by the 2 [Board or the adjudicating officer] under this Act shall be appealable except as provided in 3[section 15T or section 20] and no civil court shall have jurisdiction in respect of any matter which the 2[Board or the adjudicating officer] is empowered by, or under, this Act to pass any order and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any order passed by the 2[Board or the adjudicating officer] by, or under, this Act].
1. Ins. by Act 9 of 1995, s. 11 (w.e.f. 25-1-1995).
2. Subs. by Act 32 of 1999, s. 12, for "Board" (w.e.f. 16-12-1999).
3. Subs. by s. 12, ibid., for "section 20" (w.e.f. 16-12-1999).
Nothing in this Act shall exempt any person from any suit or other proceedings which might, apart from this Act, be brought against him.