Fairgrowth Investments Ltd vs The Custodian

The Supreme Court held that the Special Court under The Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 does not possess the power to condone the delay in filing a petition under Section 4(2) of the Act. The Court emphasized that the statutory timeline of 30 days for filing objections is mandatory and cannot be extended by the Special Court. Consequently, the appeal was dismissed as the petition was filed beyond the stipulated period, affirming the strict adherence to the provisions of the Act.