Shakti is aggrieved by the order of the Securities Appellate Tribunal (SAT) and intend to appeal before appropriate authority/court. Briefly explain the procedure and time limit for filing of appeal.

Appeal against SAT Order to the Supreme Court: Any person aggrieved by any decision or order of the Securities Appellate Tribunal (SAT) may file an appeal to the Supreme Court. 1. Statutory Provisions: Section 15Z of the SEBI Act, 1992. Section 22F of the Securities Contracts (Regulation) Act, 1956. These sections lay down that any person aggrieved by a decision or order of the SAT may file an appeal to the Supreme Court on any question of law arising out of such order. 2. Time Limit for Filing Appeal: The appeal must be filed within 60 days from the date of communication of the decision or order of the SAT to the aggrieved person. Condonation of Delay: 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 60 days . This means a maximum extension of 60 days beyond the initial 60 days can be granted. 3. Procedure for Filing Appeal to the Supreme Court: The general procedure for filing an appeal to the Supreme Court against a SAT order typically involves the following steps: Obtaining SAT Order: The aggrieved party must first obtain a certified copy of the order passed by the Securities Appellate Tribunal. Preparation of Appeal: An appeal petition needs to be drafted, clearly stating the grounds of appeal, which must involve a "question of law". This involves legal research and drafting by legal counsel. Filing of Appeal: The prepared appeal, along with necessary documents and fees, is then filed with the Registry of the Supreme Court of India within the prescribed time limit.