Judgment

Y.K. Sabharwal, J.—Criminal Courts are normally constituted under the provisions of the Criminal Procedure Code. Section 6 of the Code of Criminal Procedure, 1973 (for short, ‘the Code’) provides for the classes of criminal courts. In addition to the provisions contained in the Code or the old Code of 1898, from time to time, enactments have been passed providing that in respect of certain offences, there will be a Special Court manned by persons having specified qualifications. In the present appeals, we are concerned with such an enactment, namely, The Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (‘the Act’ for short). The passing of the Act was preceded by an Ordinance which was promulgated on 6th June, 1992.

2. It is an Act to provide for the establishment of a Special Court for the trial of offences relating to transactions in securities and for matters connected therewith or incidental thereto. In the year 1992, large scale irregularities and malpractices were noticed by the Reserve Bank of India in relation to transactions in both the Government and other securities, indulged in by some brokers in collusion with the banks and fina