Premanand R. Shenoy vs Custodian & Ors

The Supreme Court upheld the decision of the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, which directed the appellant to pay Rs. 2,83,192/- with interest to the Custodian. The Court emphasized the role of the Custodian as per Section 3 of the Act, which allows for the attachment of property involved in securities transactions. The judgment reinforced the authority of the Custodian in recovering amounts related to irregularities in securities transactions, affirming the Special Court's order as valid and enforceable.