Canara Bank And Ors. vs Standard Chartered Bank

The Supreme Court upheld the decision of the Special Court under the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992, which ordered the appellant to pay Rs. 60,64,71,275.12 along with interest at 20% per annum from November 25, 1991, until payment. The Court found that the appellant failed to honor the SGL transfer forms presented to the RBI, leading to the respondent's entitlement to the decretal amount. The judgment confirmed the liability of the appellant despite claims of account settlement and jurisdictional objections.