Appeal fee requirement: memorandum of appeal must include prescribed fee paid by crossed demand draft to Registrar.

Every memorandum of appeal must be accompanied by a prescribed fee remitted by a crossed demand draft drawn on a nationalized bank in favour of The Registrar, Securities Appellate Tribunal payable at the registry station. For appeals against adjudication orders the Rules prescribe a tiered fee schedule linked to the amount of penalty, including an incremental addition for higher penalty bands subject to a maximum; payment by demand draft to the Registrar remains mandatory.

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