Section 23E of the Depositories Act, 1996 – Civil Court not to have jurisdiction

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Section 23E: Civil Court not to have jurisdiction

1[23E. Civil court not to have jurisdiction.–No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which a Securities Appellate Tribunal is empowered by or under this Act to determine 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 power conferred by or under this Act.]

Source: official text of The Depositories Act, 1996 as published on India Code (PDF). All sections of the Depositories Act, 1996.

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