Lucy Paul & Anr vs Custodian Spl. Court (Torts) Act. & Ors

The Supreme Court held that the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 erred in dismissing the appellants' application for lifting the attachment of ACC shares due to delay without considering their explanation for the delay. The Court established that the Special Court should have condoned the delay and decided the application on its merits. Consequently, the appeal was allowed, the impugned order was set aside, and the Special Court was directed to hear the application.