FAIRGROWTH INVESTMENTS LTD. vs 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 have the power to condone the delay in filing a petition under Section 4(2) of the Act. The Court emphasized that the Act's provisions, particularly Section 4(2), impose a strict 30-day limitation period for filing objections to notifications issued under Section 3(2). The Court ruled that adherence to this timeline is essential to maintain the integrity and objectives of the Act, thereby dismissing the appeal.