JUDGMENT

S.B. Sinha, J.-These appeals arising out of the judgments and orders dated 21st March 2003 passed by the Special Court at Bombay in Miscellaneous Petition Nos. 71, 72 and 99 of 1999 involving similar questions of law and fact were taken up for hearing together and are being disposed of by this common judgment.

FACTS :

2. The fact of the matter, however, is being noticed from Civil Appeal No. 4268 of 2003.

3. A notification was issued on 2.7.1992 by the Custodian notifying the Respondent No.1 as a notified party in terms of the provisions of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 (for short "the said Act").

4. The Appellant herein obtained short term loans amounting to Rs. 14.25 lakhs from the notified party during the period 1.4.1991 to 6.6.1992 as specified in the said Act. The Custodian called upon the Appellant herein to furnish particulars of the said loans pursuant to or in furtherance whereof the Appellant herein accepted the same to be outstanding as on 30.6.1992 in the books of Respondent No.1 payable to him. On the said amount of loan, interest at the rate of 21 per annum was payable.

5. The Appellant herein was directed