BANK OF INDIA vs KETAN PAREKH

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, and thus the Debts Recovery Tribunal lacks jurisdiction to declare such properties charged under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court affirmed the Bombay High Court's ruling that only the Special Court has jurisdiction over matters concerning notified parties, thereby upholding the High Court's decision and dismissing the appeal.