JUDGMENT

Jagdish Singh Khehar, CJI. - Leave granted, in all the special leave petitions.

2. Complaints were filed against the private parties herein, for offences punishable under the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘the SEBI Act’). At the time when the complaints were filed under Section 26(2) of ‘the SEBI Act’, the concerned accused were to be tried by a Metropolitan Magistrate (or, a Judicial Magistrate of the first class). In this bunch of cases, the contention before this Court, at the behest of the private parties is, that for offences allegedly committed before 29.10.2002 (whether or not, taken up for trial before 29.10.2002) the trial was to be conducted by the concerned Metropolitan Magistrate (or, a Judicial Magistrate of the first class), and none other. It is relevant to record, that in these cases complaints filed against the private parties herein, pertain to allegations of commission or omission, prior to 29.10.2002. In some of these matters, proceedings were initiated prior to 29.10.2002, while in others, it was initiat