On Friday, the Centre appointed retired Justice PS Dinesh Kumar as the presiding officer of the Securities Appellate Tribunal for a term of four years. Justice Kumar previously served as the Chief Justice of the Karnataka High Court.
According to a gazette notification by the Ministry of Finance, Justice Dheeraj Bhatnagar, retired Principal Chief Commissioner of Income Tax, has been appointed as a technical member.
The Securities Appellate Tribunal (SAT) consists of a presiding officer, typically a retired judge, and two members – one judicial and one technical. The position of presiding officer had remained vacant for over three months following the retirement of Justice Tarun Agarwala in December 2023. Justice Meera Swarup was the sole technical member on the bench after Justice Agarwala’s retirement.
In January, Justice Kumar was appointed as the Acting Chief Justice of the Karnataka High Court, subsequently assuming the role of Chief Justice. With a career spanning over 34 years, Justice Kumar began in 1990 and rose to become an Additional Judge in the Karnataka High Court in 2015.
Throughout his career, Justice Kumar has served in various capacities, including as Standing Counsel for the Central Bureau of Investigation (CBI), Senior Standing Counsel for BSNL, and legal counsel for institutions such as the Union Public Service Commission (UPSC), University Grants Commission (UGC), All India Council for Technical Education (AICTE), and National Council for Teacher Education (NCTE).
The Securities Appellate Tribunal is a statutory body established under Section 15K of the Securities and Exchange Board of India Act, 1992. It adjudicates appeals against orders issued by regulatory bodies such as SEBI, IRDAI, and PFRDA.
