SAT overturns more SEBI orders in FY26, modified orders also double

The Securities Appellate Tribunal (SAT) overturned 47 SEBI orders in the fiscal year 2025-26, more than double the 23 appeals it allowed in the previous year. Additionally, the number of orders modified by the tribunal also more than doubled to 88 from 42. SAT received 429 appeals during the year, down from 533 in FY25, while pending appeals increased to 1,066 at the end of March 2026 from 960 a year ago.

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