M/s. XYZ company Ltd. aggrieved by the decision of Adjudicating Officer under the SEBI Act, 1992 moved to civil court to contest the case. Is the action of the company correct in light of SEBI provisions? Give your views

Section 20A of the SEBI Act, 1992 lays down that no order passed by the SEBI or the adjudicating officer under this Act shall be appealable except as provided in section 15T or section 20 and no civil court shall have jurisdiction in respect of any matter which the SEBI (or the adjudicating officer) is empowered by, or under, this Act to pass any order and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any order passed by the SEBI or the adjudicating officer by, or under, the SEBI Act. Any person aggrieved by an order of the SEBI made or by an order made by an adjudicating officer under the SEBI Act or by an order of the Insurance Regulatory and Development Authority (IRDA) or the Pension Fund Regulatory and Development Authority (PFRDA) may prefer an appeal to a Securities Appellate Tribunal (SAT) having jurisdiction in the matter within a period of forty-five days from the date on which a copy of the order made by the SEBI or the Adjudicating Officer or the IRDA or the PFRDA as the case may be. In view of the above provisions, the company should move to the Securities Appellate Tribunal (SAT).