JUDGMENT

S.B. Sinha, J.—

Introduction :

Application of terms and conditions of sale of properties in terms of the provisions of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (for short, the Act) is in question in these appeals which arise out of the judgments and orders dated 22.06.2006, 31.07.2006 and 23.06.2006 passed by the Special Court (Trial of Offences Relating to Transactions in Securities) at Bombay in Intervention Application No.131 of 2006 filed in Misc. Petition No. 4 of 2001, Report No. 12 of 2006 in Misc. Application No.131 of 2006; and Misc. Petition No. 41 of 1999 respectively.

2. Before adverting to the questions as also the fact involved in each of these matters, we may at the outset notice that one Harshad Mehta was a person notified under the Act. The private respondents herein being his relatives were also notified (hereinafter referred to as the notified parties). Apart from late Harshad S. Mehta, the Custodian had notified 29 entities in terms of Section 3 of the said Act, inter alia, comprising three of his younger brothers, his wife, wives of two of his younger brothers.

3. In the proceedings initiated before the Sp