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of <h1>Rule 16: Appellant Heard First in Appeals, Tribunal Can Decide on Merits if Appellant Absent, Allows Valid Excuses Later.</h1> Rule 16 of the Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000 outlines the procedure for hearing appeals. The appellant is heard first, followed by the Securities Appellate Tribunal hearing the Board or its representative, with the appellant having the right to reply. Written arguments can be supplemented by oral arguments. If the appellant fails to appear, the Tribunal may decide the appeal on its merits but can set aside such decisions if the appellant later shows valid reasons for their absence. Temporary absence of the Presiding Officer allows another member to hear the case.
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