ABB LTD. vs INDS.FINANCE CORPN.OF INDIA

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 appellant was entitled to retain possession of the cars as the lease finance agreement included a tacit understanding for transfer of ownership after the lease period upon payment of a terminal fee. The Court directed the Special Court's order to be set aside, allowing the appellant to maintain possession of the vehicles until the terminal fee was paid.