Securities and Exchange Board of India Act, 1992
(1) Any person aggrieved by an order of the Board made under this Act, or the rules or regulations made thereunder may prefer an appeal to the Central Government within such time as may be prescribed.
(2) N o appeal shall be admitted if it is preferred after the expire of the period prescribed therefor:
Provided that an appeal may be admitted after the expire of the period prescribed therefor if the appellant satisfies the Central Government that he had sufficient cause for not preferring the appeal within the prescribed peruse.
(3) Every appeal made under this section shall be made in such form and fees as may be prescribed.
(4) The procedure for disposing of an appeal shall be such as may be prescribed:
Provided that before disposing of an appeal, the appellant shall be given a reasonable opportunity of being heard.