Harshad S. Mehta & Ors vs The State Of Maharashtra

The Supreme Court examined the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, particularly focusing on Sections 6, 7, and 9, which establish the framework for the formation and jurisdiction of Special Courts for securities-related offences. The Court held that the Special Court has exclusive jurisdiction over such offences and must follow the procedures outlined in the Criminal Procedure Code, 1973, as long as they do not conflict with the Act. The judgment clarified the roles of custodians and the nature of securities under the Act, emphasizing the need for a specialized judicial mechanism to address financial irregularities.