Discuss the Appellate Authorities under SEBI Act.

The Securities Appellate Tribunal (SAT) is an appellate tribunal established under the Securities and Exchange Board of India (SEBI) Act, 1992, to hear appeals against orders passed by SEBI or its officers. The SAT is an independent judicial body that has the power to confirm, modify or set aside any order passed by SEBI or its officers. As per Section 15T of the SEBI Act, 1992, any person aggrieved by an order of the Securities Exchange Board of India (Board) made under the SEBI Act, 1992 or the rules or regulations made thereunder, or by an order made by an adjudicating officer under the SEBI Act; or by an order of the Insurance Regulatory and Development Authority or the Pension Fund Regulatory and Development Authority, may prefer an appeal to a Securities Appellate Tribunal having jurisdiction in the matter. Further as per section 15Z, any person aggrieved by any decision or order of the Securities Appellate Tribunal may file an appeal to the Supreme Court within sixty days from the date of communication of the decision or order of the Securities Appellate Tribunal to him on any question of law arising out of such order. However, the Supreme Court may, if it is satisfied that the applicant was prevented by sufficient cause from filing the appeal within the said period, allow it to be filed within a further period not exceeding sixty days.