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1998 (1) TMI 398 - SC - Companies LawWhether the Special Court, functioning under the provisions of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 has jurisdiction to entertain and try the criminal case filed by the respondent-complainant against the appellant-accused? Held that:- Appeal dismissed. The learned single judge of the High Court, as a Special Court, was quite justified in passing the impugned order in connection with the jurisdiction of that court in entertaining and trying the criminal case against the appellant. A conjoint reading of the recitals in the complaint which obviously must be assumed to be true at this stage would show that the accused is alleged to have entered into a transaction in securities, namely, the shares during the relevant period and out of the said transaction is alleged to have received sale proceeds which he has not handed over or transmitted to the complainant who claims to be entitled to the said amount. Thus the offence alleged is certainly relating to the transaction in securities as is said to have been entered into by the accused during the relevant period.
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