STATE BANK OF SAURASHTRA vs P.N.B.

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 ordered the appellant to deliver units of the Unit Trust of India to the respondent, following a breach of contract for non-delivery despite payment of Rs. 102,65,12,500. The Court confirmed the entitlement of the respondent to specific performance and damages, emphasizing the enforceability of contractual obligations under the Act. The appeal was dismissed, affirming the lower court's ruling and the awarded costs of Rs. 27.87 lakhs.