Right of appeal against listing refusal secures tribunal review and compels stock exchange compliance with procedural orders. A public company refused listing by a recognised stock exchange is entitled to reasons and may appeal to the Securities Appellate Tribunal within prescribed timeframes; the Tribunal may vary or set aside the exchange's decision or, where the exchange failed to decide in time, grant or refuse permission, and the exchange must comply with the Tribunal's order. Appeals must follow prescribed form and fee requirements, the Tribunal must send its orders to the regulator and parties, and should dispose of appeals expeditiously within a statutory target period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Right of appeal against listing refusal secures tribunal review and compels stock exchange compliance with procedural orders.
A public company refused listing by a recognised stock exchange is entitled to reasons and may appeal to the Securities Appellate Tribunal within prescribed timeframes; the Tribunal may vary or set aside the exchange's decision or, where the exchange failed to decide in time, grant or refuse permission, and the exchange must comply with the Tribunal's order. Appeals must follow prescribed form and fee requirements, the Tribunal must send its orders to the regulator and parties, and should dispose of appeals expeditiously within a statutory target period.
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