Section 20 in The Securities and Exchange Board of India Act, 1992
(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.
Title: Members, officers and employees of the Board to be public servants
All members, officers and other employees of the Board shall be deemed, when acting or purporting to act in pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).
Title: Protection of action taken in good faith
No suit, prosecution or other legal proceedings shall lie against the Central Government 1[or Board] or any officer of the Central Government or any member, officer or other employee of the Board for anything which is in good faith done or intended to be done under this Act or the rules or regulations made thereunder.
1. Ins. by Act 9 of 1995, s. 12 (w.e.f. 25-1-1995).