ASHIWIN S. MEHTA vs UNION OF INDIA .

The Supreme Court upheld the Special Court's order allowing the Custodian to sell 54,88,850 shares of Apollo Tyres Ltd. at Rs.90 per share under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992. The Court emphasized that the Custodian was authorized to manage and sell the shares of notified parties as per the scheme approved by the Court, despite objections regarding ownership and compliance with the takeover code. The Court affirmed the legality of the registration of unregistered shares in the Custodian's name and the subsequent sale process.