'SEBI and SAT have national importance in creating a stable and reliable investment environment', said CJI DY Chandrachud

It was during this that Chief Justice of India DY Chandrachud inaugurated the new premises of SAT at Mittal Court here. While doing so, he brought forth the requirement of SEBI and SAT given the boom in the stock market. The CJI said that when investors develop a sense of confidence that their investments are safe with proper mechanisms for the resolution of the disputes, the markets become running and more and more investments are made in the markets in any country.

He said: "When we think of the idea of 'the rule of law', we think in terms of social and political justice. The protection of the 'rule of law' has been intrinsically linked with better economic outcomes and financial advancement for the country, as the World Bank theorized back in 2005. A legal system that contains proper stay orders, fairness, and forums for dispensing justice without arbitrariness is an essential step in building investor confidence in the markets and business landscape of the country.

The CJI said, "Therefore, regulators like SEBI and appellate forums like SAT have national importance in creating a stable and credible investment climate. When investors feel confident that their investments are protected by law and there are effective mechanisms for dispute resolution, they are more likely to invest in the country's markets. This flow of investment can lead to better economic outcomes, such as increased capital formation, job creation, and overall economic growth."

DY Chandrachud also added that registrars, researchers, and staff who keep the machinery in the courts and tribunals wells are working silently behind the excellent function of the courts and tribunals. The CJI further said, "When we think of judicial forums – be it our tribunals, high courts, or the Supreme Court – we generally visualize Judges, Lawyers, and Litigants. But at the back of the effective functioning of all these forums lies the registrars, researchers, administrative staff, and many officials.

The CJI indicated that the SAT is the referee who ensures that in the ruthless world of competition in the financial sector, the stakeholders abide by the rule. Exercising the office of a good referee, the SAT has functioned with workable success. As our markets and businesses have become more complex, there has also been a flood of new rules. Therefore, the tribunal must constantly prepare itself for the challenges.