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of <h1>Securities Appellate Tribunal under Section 23B has civil court powers and follows natural justice principles</h1> Section 23B of the Depositories Act, 1996 establishes the procedure and powers of the Securities Appellate Tribunal. The Tribunal is not bound by Civil Procedure Code provisions but must follow natural justice principles and may regulate its own procedures. It possesses civil court powers including summoning witnesses, examining them under oath, requiring document production, receiving affidavit evidence, issuing commissions, reviewing decisions, and handling default applications. All proceedings are deemed judicial proceedings under the Indian Penal Code and Criminal Procedure Code provisions.
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