SAT raps SEBI for Over-regulation

The Securities Appellate Tribunal (SAT) came down heavily on the Securities and Exchange Board of India (SEBI) in the DLF case over what it termed as over-regulation. SAT said, "You pass 10 such orders and the whole economy will crash. Is this regulation or abolition?... They (SEBI) are going more towards abolition mode than regulation...and it is clearly over-regulation. What do you get, what pleasure, out of such orders? You cannot recognise the effect of such orders. They are not to be called word-class regulators."