JUDGMENT

Surinder Singh Nijjar, J. —

1. This Statutory First Appeal under Section 10 of the Special Court (Trial of offences relating to Transactions in Securities) Act, 1992 (in short the ‘Special Court Act’ ) is directed against the judgment and decree dated 15.4.2004 passed by the Special Court at Bombay in Suit No.4 of 1998.

2. The aforesaid suit was initially filed by the appellant in the High Court of Delhi at New Delhi on its original side being Suit No.1827/1993. It was transferred to the Special Court in view of the appellant being notified on or about 17.6.1997 under the provisions of the Special Court and thereafter the suit was numbered as Suit No.4/98 before the Special Court. The appellant had prayed for money decree in the amount of Rs.3,18,06,868/- together with interest at the rate of 24%. Respondent No.1, Can Bank Financial Services Limited, had opposed the claim and also lodged a counter claim, claim and decree in the amount of Rs.2,53,75,000/- from the appellant with interest w.e.f. 22.4.1992. The appellant claims to be a stock broker, being a sole proprietory concern of Mr. Naresh K. Aggarwala. The respondent No.1, Can Bank Financial Services Limited, is a whol