STATE BANK OF INDIA THR. GENERAL MANAGER vs NATIONAL HOUSING BANK

The Supreme Court addressed appeals under Section 10 of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, concerning the powers of the Custodian to attach properties of individuals involved in securities transactions between April 1, 1991, and June 6, 1992. The Court held that the Custodian's authority to notify individuals and attach properties is valid and necessary for the recovery of funds and maintaining the integrity of financial institutions. The judgment reinforces the legislative intent behind the Special Court Act to expedite justice in cases of financial irregularities.