Asea Brown Boveri Ltd vs Industrial Finance Corporation Of ...

The Supreme Court addressed an appeal under Section 10 of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, concerning the possession of 56 cars leased by the appellant from Fairgrowth Financial Services Limited. The Court held that the lease finance agreement included a tacit understanding for the transfer of ownership after the lease period upon payment of a terminal fee, which was not violated by the custodian's actions. The Court upheld the Special Court's directive for the appellant to hand over possession of the cars, affirming the legality of the custodian's authority under the Act.