https://www.taxtmi.com/caselaws?id=256735 An amendment to Section 15Z of the SEBI Act, 1992 that shifted the second appeal from the High Court to the Supreme Court, and limited it to questions of law, was held not to apply to pending appeals arising from SAT orders passed before the change. The right of appeal was treated as a vested substantive right that accrues when the lis begins before the first forum. Because the amending law contained no express or implied indication of retrospective operation, and the general savings principle in Section 6 of the General Clauses Act applied, appeals already filed before the amendment remained governed by the unamended provision. The pre-amendment appellate route therefore continued for those pending matters. en-us Tue, 13 Jan 2015 00:00:00 +0530 Thu, 04 Aug 2016 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256735 An amendment to Section 15Z of the SEBI Act, 1992 that shifted the second appeal from the High Court to the Supreme Court, and limited it to questions of law, was held not to apply to pending appeals arising from SAT orders passed before the change. The right of appeal was treated as a vested substantive right that accrues when the lis begins before the first forum. Because the amending law contained no express or implied indication of retrospective operation, and the general savings principle in Section 6 of the General Clauses Act applied, appeals already filed before the amendment remained governed by the unamended provision. The pre-amendment appellate route therefore continued for those pending matters. Case-Laws Companies Law Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256735