STANDARD CHARTARD BANK vs ANDHRA BANK FIANANCIAL SERVICES LTD.&ORS

The Supreme Court ruled on the interpretation of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, specifically Section 10, in relation to the ownership and registration of bonds. The Court held that the Special Court's dismissal of Standard Chartered Bank's claim in Suit No. 11/96 was justified, while allowing Canara Bank's application for registration as the owner of certain bonds. The judgment clarified the procedural aspects of bond transactions and the responsibilities of financial institutions involved.