Bank Of India vs Ketan Parekh & Ors

The Supreme Court held that under Section 3(3) of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992, properties of a notified person are automatically attached, thereby precluding the Debts Recovery Tribunal from asserting jurisdiction over such properties. The Court affirmed the Bombay High Court's ruling that the Special Court has exclusive jurisdiction in matters involving notified parties under the Act of 1992, thus upholding the High Court's decision to reverse the Appellate Tribunal's order. The appeal was dismissed, confirming the High Court's interpretation of jurisdictional boundaries between the two Acts.