Citi Bank N.A vs Standard Chartered Bank & Others

The Supreme Court addressed appeals arising from suits under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, concerning banking transactions between Standard Chartered Bank, Citi Bank, and Canbank Mutual Fund. The Court held that the Special Courts have jurisdiction over both civil and criminal liabilities related to securities transactions, emphasizing the need for integrity in banking practices. The appeals were decided in favor of Standard Chartered Bank and against Citi Bank and Canbank Mutual Fund, affirming the decrees of the Special Judge.