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    <description>Purely procedural and interlocutory orders of the Securities Appellate Tribunal that do not affect substantive rights are not appealable under section 15Z of the Securities and Exchange Board of India Act, 1992. The appellate provision was read in light of the statutory scheme as covering decisions or orders that determine questions of fact or law affecting the parties&#039; rights, not directions that merely regulate the conduct of proceedings. The distinction between orders affecting substantive rights and steps toward final adjudication was applied, and grievances against such procedural matters were held to be capable of being raised, if necessary, in an appeal from the final order.</description>
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