law: Securities and Exchange Board of India Act, 1992
  20.Appeals.- 
  (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.