Last updated: 23 September 2026. Stream counts refreshed from the live index, launch-era wording removed, and the SAT CNR generator added.
To check a SAT case status online, open eCourtsIndia search, pick the stream by its court code (SATMUSE for SEBI appeals, SATMUIR for IRDAI appeals or SATMUPF for PFRDA appeals), then search the party name or paste the 16-character CNR. The Securities Appellate Tribunal sits in the same free index as the Supreme Court, the High Courts, the district courts and the other tribunals, and the search box reads inside the full text of uploaded orders. As of 23 September 2026 the index holds 4,680 SAT records, and more than 80 percent of them carry at least one uploaded order. This guide gives you the stream links, the case types and four ways to find a securities appeal.
Key takeaways
- The Securities Appellate Tribunal is searchable on ecourtsindia.com/search, with 4,680 records as of 23 September 2026: 3,562 disposed and 1,118 pending.
- SAT sits at a single seat in Mumbai and hears appeals from three regulators, so its records carry three court codes:
SATMUSE(SEBI),SATMUIR(IRDAI) andSATMUPF(PFRDA). - SEBI appeals make up about 98 percent of the caseload at 4,600 records, with 76 IRDAI appeals and 4 PFRDA appeals.
- 3,842 SAT records carry at least one uploaded order and 2,932 carry a judgment, so most of the tribunal’s reasoning is readable in full text.
- Have only the SAT appeal number? The SAT CNR generator turns it into a CNR you can search, track and set alerts on.
Where SAT sits on eCourtsIndia
SAT is one of 18 tribunal and commission types in the eCourtsIndia index, which together hold 44 lakh+ tribunal records. The same search covers the company-law benches in our NCLT and NCLAT guide, the tax tribunals in the ITAT and CESTAT guide, and the regulator orders that often sit upstream of a SAT appeal: SEBI’s own orders, alongside CCI and GST AAAR rulings, are covered in our guide to CCI, SEBI and GST AAAR orders. For the full list of forums, the India courts and eCourts access directory is the hub page to bookmark.
That pairing matters in securities work. A SEBI order and the SAT appeal against it are two separate records, and on most official sites they live in different places. On eCourtsIndia you can read the regulator’s order, follow the appeal at SAT and then trace the matter to the Supreme Court with the same party-name search.
What is the Securities Appellate Tribunal (SAT)?
The Securities Appellate Tribunal (SAT) is the statutory tribunal that hears appeals against orders of India’s financial-market regulators, principally the Securities and Exchange Board of India (SEBI). It was set up under the SEBI Act, 1992 and sits at a single seat in Mumbai. Its jurisdiction was later widened, so it also hears appeals against orders of the Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA).
In plain terms, if SEBI passes an order against you, for a penalty, a disgorgement, a debarment from the securities market or a refusal of registration, your appeal goes to SAT. An insurer aggrieved by an IRDAI order, or a pension intermediary aggrieved by a PFRDA order, lands at the same tribunal. From SAT, the next and final step is a statutory appeal to the Supreme Court on a question of law.
| Step | Forum | What happens there |
|---|---|---|
| 1 | SEBI, IRDAI or PFRDA | The regulator passes an order: a penalty, a debarment, a disgorgement or a refusal |
| 2 | Securities Appellate Tribunal, Mumbai | The aggrieved party appeals; SAT hears facts and law |
| 3 | Supreme Court | Statutory appeal on a question of law |
The three SAT streams, and how to open each one
Because SAT hears appeals from three regulators, its records are tagged with three court codes, one per regulator, all under the Mumbai seat. The codes were re-verified against the live court-code list on 23 September 2026, and each drops straight into a search link.
| Appeal stream | Court code | Indexed records | Open the stream |
|---|---|---|---|
| SEBI appeals (securities) | SATMUSE | 4,600 | Search SEBI appeals |
| IRDAI appeals (insurance) | SATMUIR | 76 | Search IRDAI appeals |
| PFRDA appeals (pension) | SATMUPF | 4 | Search PFRDA appeals |
| All three streams together | SATMUSE,SATMUIR,SATMUPF | 4,680 | Search all of SAT |
The securities stream dwarfs the other two, which is what you would expect, since SEBI is the most active of the three regulators and its enforcement orders are challenged far more often. The insurance stream has grown since this guide first ran in June 2026, while the pension stream is still tiny. Searching all three codes together shows you everything SAT has on record, not just the SEBI slice.
The SAT case types you will see
SAT uses a short vocabulary of case-type codes, one per regulator, and a wrong code returns nothing, so it helps to know them.
| Case type | Code | What it is | Indexed records |
|---|---|---|---|
| SEBI Appeal | SEBI_SAT | Appeals against orders of the Securities and Exchange Board of India | 4,600 |
| IRDAI Appeal | IRDAI_SAT | Appeals against orders of the insurance regulator | 76 |
| PFRDA Appeal | PFRDA_SAT | Appeals against orders of the pension fund regulator | 4 |
SEBI appeals are the heart of what SAT does. These are the matters that test the market regulator’s reach, from insider-trading and front-running penalties to disgorgement orders and debarments. About three in four SAT records are disposed, which makes the tribunal a deep source of decided law. To make sense of any status, the case status dictionary explains all 71 status codes, and the case type encyclopedia covers the vocabulary across every court and tribunal.
How to check a SAT case status
Open eCourtsIndia search, narrow to the stream with its court code, then search by party name or CNR. There are four reliable routes, depending on what you already have.
1. By party name. Type the appellant or company name into the free-text box and add the stream filter, for example ecourtsindia.com/search?cc=SATMUSE for SEBI appeals. The index matches names on both sides, and in these matters the regulator is almost always one of the parties. To trace one name across every stream and court, drop the filter or use the litigant search; our litigant search guide shows how to handle spelling variants.
2. By CNR. Every SAT matter on eCourtsIndia carries a 16-character CNR that begins with the stream code, so SATMUSE for a SEBI appeal or SATMUIR for an IRDAI appeal, followed by a five-digit number and the year. Paste it into the search and you land on that case. Our guide to the CNR number decoded walks through each character.
3. From the SAT appeal number. If you have an appeal number from a notice or the SAT website, open the SAT CNR generator, pick the stream, enter the appeal number and year, and copy the CNR it builds. The tribunal CNR explainer publishes the layout for SAT and 13 other tribunals.
4. By stream, then filter. To browse, open a stream with its cc= link and narrow by status and filing year in the sidebar. This is how a securities lawyer scans all pending SEBI appeals at the tribunal. Plain keywords, names and CNRs are enough; the eCourtsIndia search guide covers every filter if you want more.
Three searches worth saving
- Every SAT ruling on a theme. Open the SEBI stream and type a phrase such as
"insider trading"or"front running"in quotes. Because the search reads the order text, you get the appeals where the issue was actually argued, not just those with the phrase in a party name. - One regulation across the tribunal. Search a regulation name, for example
PFUTPor"SAST Regulations", across all three codes to see how often it is litigated and how the tribunal has read it. - What is still open. Open all three streams, set the status filter to pending and narrow by filing year to find the oldest unresolved appeals, a quick way to gauge how long an appeal can stay open.
Reading orders and judgments
On a case page you get the order sheet and, where uploaded, the full text of every order and judgment. Of the 4,680 SAT records, 3,842 carry at least one uploaded order and 2,932 carry a judgment. For SAT, where a single order on a SEBI penalty or a market ban can run to many closely argued pages, full-text access is the difference between knowing a case was decided and knowing how. The free-text box searches inside that text, so you can find every matter where a regulation, a doctrine or an argument appears, which is how a securities researcher builds a line of authority.
To keep a live appeal on watch, add it to tracking and switch on WhatsApp and email alerts for new orders, hearing dates and status changes: tracking is Rs 5 per case per month and each alert Rs 0.50, and our case alerts guide walks through the setup. The AI Clerk can summarise a long SAT order for Rs 2, and the Chrome extension surfaces updates while you work. Prices are on the pricing page; searching stays free.
Who this helps
Securities lawyers and litigation teams can map a SEBI appeal to a client and get alerts the moment an order or hearing date changes. Listed companies, brokers, merchant bankers and other intermediaries facing a SEBI order can follow their own matter without logging into a separate tribunal site. Compliance and legal teams can keep SEBI, IRDAI and PFRDA matters next to the rest of their litigation, and developers can pull the same records through the eCourtsIndia API (23 endpoints, Rs 200 of free credits on signup), the workflow in legal due diligence on the eCourtsIndia API. Teams working in Claude or ChatGPT can query SAT through the MCP server described in MCP 101 for legal teams.
Investors and individuals fighting a penalty or a debarment can see where their appeal stands without chasing a separate portal, and if they need counsel, the verified advocate directory lists bar-card verified lawyers. Journalists and researchers tracing how the tribunal treats a recurring issue, from insider trading to disclosure failures, can do it in one query, and students of securities law get a clean, full-text dataset.
Frequently Asked Questions
How do I check a SAT case status online?
Open eCourtsIndia search, filter to the stream using its court code, such as SATMUSE for SEBI appeals, then search the party name or paste the 16-character CNR. The case page shows the current status, the order sheet and the full text of any uploaded order or judgment. Searching is free and needs no login.
What is the Securities Appellate Tribunal and where does it sit?
The Securities Appellate Tribunal (SAT) is the statutory tribunal that hears appeals against orders of India’s financial-market regulators, principally SEBI, and also IRDAI and PFRDA. It was set up under the SEBI Act, 1992 and sits at a single seat in Mumbai. Appeals from SAT go to the Supreme Court on a question of law. SEBI’s own orders are covered in our SEBI orders guide.
How many SAT cases are on eCourtsIndia?
As of 23 September 2026, eCourtsIndia holds 4,680 SAT records, of which 3,562 are disposed and 1,118 are pending. They split into 4,600 SEBI appeals, 76 IRDAI appeals and 4 PFRDA appeals, and most carry at least one uploaded order. Counts move as appeals are filed, so the live total on the search page is the one to rely on.
What are the SAT court codes on eCourtsIndia?
SAT carries three court codes, one per regulator, all under the single Mumbai seat: SATMUSE for SEBI appeals, SATMUIR for IRDAI appeals and SATMUPF for PFRDA appeals. Open one stream with a single code, for example ecourtsindia.com/search?cc=SATMUSE, or open the whole tribunal with all three codes separated by commas.
How do I convert a SAT appeal number into a CNR?
Open the SAT CNR generator, pick the stream (SEBI, IRDAI or PFRDA), and enter the appeal number and year. It returns a 16-character CNR starting with the stream code, such as SATMUSE, that you can search, track and set alerts on. The layout is published in our tribunal CNR explainer.
Is the SAT data on eCourtsIndia free to use?
Yes. Searching SAT records is free, with no login and no paid ranking, and nobody can pay to hide a case or push one up the results. Optional extras are priced per use: tracking at Rs 5 per case per month, WhatsApp or email alerts at Rs 0.50 and AI order summaries at Rs 2, as listed on the pricing page.