L.S. SYNTHETICS LTD. vs FAIRGROWTH FINANCIAL SERVICES LTD.

The Supreme Court upheld the Special Court's ruling that all claims related to property owned by a notified party under the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 must be adjudicated by the Special Court, rejecting the appellant's arguments regarding limitation and jurisdiction. The Court clarified that the provisions of the Limitation Act do not apply to proceedings under the said Act, thereby affirming the Special Court's order for the appellant to pay Rs. 14.25 lakhs with interest. The judgment reinforces the interpretation of Section 9A of the Act in the context of transactions in securities.