TAX RECOVERY OFFICER CENTRAL RANGE-1 vs CUSTODIAN APPOINTED UNDER,SPL.COURT &ORS

The Supreme Court addressed appeals filed under Section 10 of the Special Courts (Trial Of Offences Relating To Transactions In Securities) Act, 1992, challenging the Special Court's order rejecting the Tax Recovery Officer's intervention applications. The Court held that the Special Court correctly determined that recovery orders against a third party not notified under the Act were not maintainable. Consequently, the appeals were dismissed, affirming the Special Court's decision regarding the distribution of sale proceeds without prioritizing the income tax department's claims.