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PK Malhotra – the last of the two present members in the Securities Appellate Tribunal (SAT), and currently presiding over the body – was appointed as secretary of the legislative department. The other member – SSN Moorthy – is set to retire this month. [PTI]

The tribunal has had no presiding officer since ex-chairman justice Nauvdeep Kumar Sodhi’s retirement in December last year. Malhotra had been officiating as presiding officer since then.

The lack of a presiding officer had cast ambiguity over the validity of the previous year’s decisions of the SAT. [The Firm, Money Control]

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