Did former Allahabad HC judge Justice Mayank joined SAT?
Reportedly 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 the allahabad High Court. He will remain in this post for four years or until he turns 67. His appointment was formalized in a notification issued by the Finance Ministry in the Official Gazette on january 3.
Meanwhile SAT is a statutory body established under the Securities and Exchange Board of india (SEBI) Act, whose job is to hear and dispose of appeals against the orders given by SEBI, Insurance Regulatory Development Authority of india (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA). It also handles any kind of manipulation, trading and violation of rules in the market as well as other matters falling under the jurisdiction of SEBI. SAT works under the Ministry of Finance and has only one branch in Mumbai.
Currently 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 Swaroop and Dheeraj Bhatnagar. The inclusion of Justice mayank Kumar Jain in SAT will help in solving the increasing cases as soon as possible. After graduating 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 a 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 serving as a member of the Commercial Tax Tribunal in meerut as well as handling division benches in cities like Ghaziabad, saharanpur and Bareilly. He was retired in november 2024.