Powers of Securities Exchange of India in Respect of Judicial Power

This paper examines the judicial powers of the Securities and Exchange Board of India (SEBI) under the SEBI Act of 1992, focusing on its quasi-judicial authority and its implications for regulatory governance. While SEBI is tasked with overseeing the securities market, its powers raise concerns about the separation of powers and potential overreach. The study explores the role of the Securities Appellate Tribunal (SAT) in reviewing SEBI’s decisions and identifies gaps in legal oversight. It also compares SEBI’s authority with international counterparts and suggests reforms to balance regulatory efficiency with constitutional principles.