Citibank N.A vs Standard Chartered Bank

The Supreme Court addressed appeals arising from transactions involving Banker Receipts under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992. The Court held that the Special Courts have jurisdiction over both civil and criminal liabilities related to securities transactions, emphasizing the need for speedy recovery and integrity in financial dealings. The appeals were decided in favor of Standard Chartered Bank against Citibank and Citibank against Canbank Financial Services Ltd., affirming the decrees of the Special Court.