Date: 03-Jan-2025Category: Extra OrdinaryState: Union GovernmentCountry: India
Notification regarding appointment of Justice Mayank Kumar Jain, Former Judge High Court of Allahabad as Judicial Member of the Securities Appellate Tribunal.
This gazette notification announces the appointment of Justice Mayank Kumar Jain, a former Judge of the High Court of Allahabad, as a Judicial Member of the Securities Appellate Tribunal (SAT).
Key Changes
Justice Mayank Kumar Jain is appointed as Judicial Member of the Securities Appellate Tribunal.
The appointment is for a period of four years from the date of joining.
The appointment is also subject to Justice Jain not reaching 67 years of age, or until further orders, whichever is earlier.
The salary for the position is set at Rs. 2,25,000 per month.
Impact Analysis
Securities Appellate Tribunal (SAT)
The appointment will help in faster disposal of cases, reducing the backlog and ensuring timely justice for stakeholders in the securities market.
Stakeholders in the Securities Market
The appointment will ensure that appeals are heard by a qualified and experienced judicial member.
Government
The government will have to ensure that the new member has the necessary resources to function effectively.
Action Items
The government needs to monitor the performance of the new member to ensure that he is fulfilling his duties effectively.
Key Entities Referenced
Securities Appellate Tribunal (SAT): A statutory body that hears appeals against orders passed by the Securities and Exchange Board of India (SEBI) and other regulatory bodies in the securities market.
Justice Mayank Kumar Jain: Former Judge of the High Court of Allahabad, appointed as Judicial Member of the Securities Appellate Tribunal.
Tribunals Reforms Act, 2021: An act of the Indian Parliament that governs the appointment and conditions of service of members of various tribunals, including the Securities Appellate Tribunal.
Tribunal (Conditions of Service) Rules, 2021: Rules framed under the Tribunals Reforms Act, 2021, that specify the conditions of service, including salary and tenure, of members of tribunals.
Ministry of Finance, Department of Economic Affairs: The ministry responsible for the appointment of the judicial member and the overall functioning of the Securities Appellate Tribunal.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-03012025-259891
CG-DxLx-xEG-I0D3H0x1x2x0 25-259891
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 27] नई दिल्ली, िुक्रिार, िनिरी 3, 2025/पौर् 13, 1946
No. 27] NEW DELHI, FRIDAY, JANUARY 3, 2025/PAUSHA 13, 1946
जित्त मत्रं ालय
(आर्थकि काय ि जिभाग)
(जित्तीय बािार प्रभाग)
अजधसचू ना
नई दिल् ली, 3 िनिरी, 2025
का.आ. 29(अ).— केंद्रीय सरकार, अजधकरण (सेिा की ित)ें जनयम, 2021 के जनयम 3 के उप-जनयम (7) के खडं
(ख) तथा जनयम 10 के उप-जनयम (2) के साथ पठित, अजधकरण सुधार अजधजनयम, 2021 (2021 का 33) की धारा 3 की
उप-धारा (2) और धारा 5 के खंड (ii) द्वारा प्रित्त िजियों का प्रयोग करत े हुए, इलाहाबाि उच् च न्यायालय के पूि ि
न्यायाधीि, न्यायमूर्ति मयंक कुमार िैन को प्रजतभूजत अपीलीय अजधकरण के न्याजयक सिस्ट्य के रूप में कायिभार ग्रहण करन े
की तारीख से चार (04) िर्ि की अिजध के जलए या सड़सि (67) िर्ि की आयु प्राप्त करने तक, या अगले आििे ों तक, िो भी
पहले हो, प्रजतमाह 2,25,000/- रुपये के िेतन पर एतद्द्वारा जनयुि करती ह।ै
[फा. स.ं 3/7/2017-आरई]
सुरजभ िैन, संयुक्त सजचि
42 GI/2025 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Economic Affairs)
(FINANCIAL MARKETS DIVISION)
NOTIFICATION
New Delhi, the 3rd January, 2025
S.O. 29(E).—In exercise of powers conferred by Sub-section (2) of Section 3 and clause (ii) of
section 5 of the Tribunals Reforms Act, 2021 (33 of 2021) read with clause (b) of sub-rule (7) of rule 3 and
sub-rule (2) of rule 10 of Tribunal (Conditions of Service) Rules, 2021 the Central Government hereby
appoints Justice Mayank Kumar Jain, Former Judge, High Court of Allahabad, as Judicial Member of the
Securities Appellate Tribunal in the salary of Rs. 2,25,000/- p.m. for a period of four (04) years from the
date of joining or till attaining the age of sixty-seven (67) years, or until further orders, whichever is earlier.
[F. No. 3/7/2017-RE]
SURBHI JAIN, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.