Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992

The Central Bureau of Investigation filed a criminal case before the Special Court (Trial of Offences Relating to Transactions in Securities) alleging conspiracy by Dhy An Investments and Trading Co. Ltd. The company sought transfer of the case from one Special Court judge to another, invoking Section 407 of the Crimin…

Asea Brown Boveri Ltd. entered into a lease‑finance agreement with Fairgrowth Financial Services Ltd. for 56 cars, paying all rentals, security deposit and a terminal fee, after which ownership was to vest in the lessee. Fairgrowth was later notified as a party to illegal transactions under Section 3(2) of the Special …

M/s Dhanraj Mills Private Ltd (the notified party) was found to have perpetrated fraudulent securities transactions and was sued by the Custodian for recovery of interest‑free loans advanced to Killick Nixon Ltd and its group. The Special Court under the Special Courts (Trial of Offences Relating to Transactions in Sec…

The Tax Recovery Officer (TRO) filed intervention applications in a Special Court seeking priority payment of income‑tax dues from Mis. Killick Nixon Pvt. Ltd. after its assets were auctioned in execution of a decree in favour of Mis. Dhanraj Mills Pvt. Ltd., the notified party. The Special Court rejected the applicati…

The appellants, relatives of the late Harshad S. Mehta, challenged a Special Court order directing the Custodian to sell shares attached to them under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992. They argued that the sale procedure was flawed – the shares were not divided int…

Bank of India appealed against a decision that the Debts Recovery Tribunal lacked jurisdiction over the property of Ketan Parekh, who had been declared a notified person under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992. Parekh's movable and immovable assets were attached by …

Fairgrowth Investments Ltd. was notified under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 and filed a petition of objection under Section 4(2) more than 30 days after the notification. The Special Court rejected the petition on the ground of limitation. The Supreme Court exa…

The Supreme Court heard an appeal under Section 10 of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, filed by the Custodian on behalf of a notified party seeking recovery of money from Mis Neeldeep Investments Ltd. The Special Court had originally decreed a liability of Rs.1,42…

The case examined whether a sitting High Court judge appointed as President of a State Consumer Disputes Redressal Commission could continue to function as a judge. A group of advocates challenged the appointment, arguing it created a master‑servant relationship and threatened judicial independence, while the governmen…

Citibank sold IRFC bonds to Standard Chartered Bank (SCB) and issued a Banker’s Receipt (BR) which SCB later returned with an endorsement, also handing over a non‑transferable BR issued by CANFINA. SCB then demanded delivery of the bonds from Citibank, leading to suits in a Special Court. The Special Court held Citiban…

The Supreme Court considered appeals by L.S. Synthtics Ltd. against orders of the Special Court under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, which had directed the appellant to pay a sum of Rs 34,99,900.68 with interest to the Custodian on behalf of the notified party, …

The appellant, Maghendra Pal Tyagi, claimed loss of 200 shares of Hero Honda Company and obtained duplicate share certificates by misrepresenting that the originals were lost. He transferred these duplicate shares to the first respondent, Jayant Davar, who later sought recovery of the purchase price, asserting ownershi…

The case concerns the ownership of Rs. 50 crore 9% tax‑free bonds (the "suit bonds") issued by Nuclear Power Corporation Ltd. (NPCL). Andhra Bank Financial Services Ltd. (ABFSL) sold the bonds to Standard Chartered Bank (SCB) on 26‑27 February 1992, and SCB paid consideration and received a Banker's Receipt. Canbank Mu…

Canbank Financial Services Ltd., a subsidiary of Canara Bank, purchased CANCIGO units worth Rs 33 crore from a stock broker (Respondent 2) who had applied for the units through two other banks (Respondents 3 and 4) that held the certificates in their names but transferred possession to the broker. The Special Court hel…

The Supreme Court heard appeals by Ashwin S. Mehta and other family members, who were notified persons under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, seeking release of residential flats and commercial premises that had been attached. The Special Court had allowed the Cus…