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Section20
The Securities and Exchange Board of India Act, 1992

Appeals

In force From 30 Jan 1992 Act 15 of 1992 As on 19 Oct 2026

Act 15 of 1992 Ministry Finance Enacted 04 Apr 1992 In force 30 Jan 1992 Cited by 1 provision Instruments 2

Section 20 of the Securities and Exchange Board of India Act, 1992 deals with appeals. Any person aggrieved by [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. The Act came into force on 30 Jan 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.

Section 20, The Securities and Exchange Board of India Act, 1992 (Act 15 of 1992).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Referred to by 1

  1. s. 20A Bar of jurisdiction

Made under this section, and citing it

2 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.

All subordinate legislation

Questions about Section 20

What does Section 20 of the Securities and Exchange Board of India Act deal with?

Section 20 of the Securities and Exchange Board of India Act is headed "Appeals". Any person aggrieved by [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.

How do I find court cases under Section 20 of the Securities and Exchange Board of India Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Sebi Act 20, section 20 Sebi Act, section 20 of the Securities and Exchange Board of India Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 20 of the Securities and Exchange Board of India Act, and has it changed?

1 other provision in this corpus refers back to it. The rules and notifications made under it are where it actually bites, and there are 2: most recently SEBI (Appeal to Central Government) Rules, 1993 (1993), then the Securities and Exchange Board of India (Appeal to the Central Government) Rules, 1993. (1993).

When did Section 20 of the Securities and Exchange Board of India Act come into force?

Section 20 of the Securities and Exchange Board of India Act, cited as Sebi Act 20, came into force on 30 Jan 1992, having been enacted on 04 Apr 1992. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 19 Oct 2026. This page is not a substitute for legal advice.