A writ petition challenging the companystitutional validity of Section 11 of the Special Court Act pending in the Delhi High Court has also been transferred to this Court for companysideration along with these appeals, as companymon questions of law arise.
This Court, by an order dated 11.3.1996, had also directed the Custodian to draft a scheme in respect of the shares held by the Custodian whereby such shares can be sold from time to time.
The Ministry of Finance, Department f Economic Affairs Banking Division approved the draft scheme sent by the Custodian with certain modifications.
The other appeals have been filed by various numberified persons under the Special Court Trial of Offences Relating to Transactions in Securities Act, 1992 hereinafter referred to as the Special Court Act from the same judgment and order of the Special Court Judge.
5225 of 1995 is filed by the Custodian appointed under the provisions of the Special Court Trial of Offences Relating to Transactions in Securities Act, 1992 against a judgment and order of the Special Court Judge dated 23.2.1995.
Pursuant to these directions, then Custodian forwarded a draft scheme for approval to the Union of India.
The Custodian was also directed to forwarded the scheme for the approval of the Union of India.
The appeal is filed by the Custodian pursuant to directions companytained in the impugned judgment itself.
All these appeals along with the transferred case have been heard together.
Civil Appeal No.
