B.O.I. FINANCE LTD. vs THE CUSTODIAN & ORS.

The Supreme Court examined the applicability of the Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992, in the context of ready-forward transactions entered into by banks with brokers prior to June 6, 1992. The Court held that such transactions, which consist of interconnected legs of purchase and sale, fall under the purview of the Special Court Act, emphasizing the need for speedy recovery of funds and integrity in financial transactions. The judgment affirmed the Special Court's authority to adjudicate these matters, thereby upholding the Act's provisions.