Judgment

Mrs. Sujata V. Manohar, J.-The Special Court (Trial of Offenders (sic) Relating Transactions in Securities) Act, 1992 is a special Act with its own special problems. The offences it deals with involve amounts of unusual magnitude procured by brokers from banks and financial institutions. Unfortunately, the proceedings before the Special Court, which was set up for a quick prosecution or adjudication of claims have been trapped in unusual legal and interpretational difficulties generated by the casual drafting of the Act that leaves much of the skills and good sense of the courts. The present appeals before us relate to the interpretation of Section 11 of the Act.

2. Civil Appeal No. 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 20.2.1995. The appeal is filed by the Custodian pursuant to directions contained in the impugned judgment itself. The other appeals have been filed by various notified persons under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (here­inaf