State Bank Of Saurashtra vs P.N.B. Punjab National Bank

The Supreme Court upheld the decision of the Special Court under the Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992, which mandated the appellant to deliver units of the Unit Trust of India to the respondent, following a breach of contract. The Court confirmed that the respondent was entitled to specific performance and damages due to the non-delivery of units worth Rs. 249,19,00,549, plus interest. The Court also noted that interim payments had been made during the appeal process, totaling Rs. 210 crores in units and Rs. 2 crores in cash.