Raju, J. - (1.) The appellant before us was the unsuccessful applicant in Miscellaneous Application No. 2 of 1999 before the Special Court (Trial of Offences Relating to Transactions in Securities) at Bombay (called for convenience as "the Special Court". The appeal has been filed under Section 10 of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 (hereinafter referred to as "the Act") against the order of the Special Court dated 16-2-2000, whereunder the relief sought to set aside the Minutes of the Order dated 5-7-1995 in Miscellaneous Petition No. 30 of 1995 and the Order dated 24-9-1997 in Miscellaneous Application No. 280 of 1997 earlier passed by the Special Court insofar as it related to the appellant and the premises of the appellant situated at Regent Chambers, Nariman Point, Bombay-400 021, on 2nd floor bearing unit Nos. 3 and 4 admeasuring approximately 2030 sq. ft. came to be rejected.
(2.) The relevant facts insofar as they are necessary for a proper appreciation of the issues raised before us, need a brief mention before adverting to the grievance of the parties. M/s. Dhanraj Mills Private Ltd., the 5th respondent in this appeal, is a notified party under the Act. On the information furnished by the Income-tax Department that public money belonging to Banks and Financial Institutions have been siphoned out into the accounts of the notified party and which, in turn, came to be successively siphoned to Kenilworth Investment Company Private Ltd., the 6th respondent herein, and from them to CIFCO Properties Private Ltd., CIFCO Finance Ltd. and M/s. Champaklal Investments (respondents 2, 3, 4 and 6), the Custodian filed Miscellaneous Petition No. 30 of 1995 against all those respondents. When the petition reached the stage of hearing by consent of parties, Minutes of the Order dated 5-7-1995 came to be filed and recorded as per which, among other things Kenilworth Investment Company submitted to a decree in favour of Dhanraj Mills Private Ltd., in a sum of Rs. 11,82,81,316/- with interest @ 20% per annum from 24-4-92 till date of payment and CIFCO Group of Companies and Champaklal Investment Company Private Ltd., submitted to a decree in favour of the 6th respondent and the decretal debts also stood charged in favour of Dhanraj Mills to receive payment from Kenilworth Investment.
(3.) Clause 7 of the Minutes of the Order dated 5-7-95 declared the ownership of the 3rd respondent herein, in the premises bearing unit Nos. 2, 5, 6, 7 and 8 at Regent Chambers, Nariman Point, Bombay, in 2nd floor admeasuring 4931 sq. ft. and unit No. 5 in ground floor admeasuring 451 sq. ft. as well as the residential flat bearing unit No. 36 in 3rd floor of Anita Apartment in Mount Pleasant Road at Malabar Hills admeasuring 575 sq. ft. Clauses 8, 12 and 13 on which both parties fixed their hopes read as follows : "8. The respondent No. 2 declares that one Western Press Pvt. Ltd. (formerly known as Jayakrishna Pvt. Ltd.) is the owner of the premises admeasuring approximately 2030 sq. ft. and described in Schedule A-3 hereunder written. The said premises are used and occupied by respondent Nos. 2 and 3 along with the said Western Press Pvt. Ltd. The respondent Nos. 2 and 3 declare and undertake to this Hon'ble Court that they will not claim any right, title or interest in the said premises mentioned in Schedule "A-3". The respondent Nos. 2, 3 and the said Western Press Pvt. Ltd. undertake to this Hon'ble Court that pending satisfaction of the decree the respondent Nos. 2, 3 and the said Western Press Pvt. Ltd. will not alienate, encumber or part with possession of or create third party right, title or interest in the said property described in Schedule A-3 hereto or any part thereof, till the decree herein is marked satisfied. 12. In the event of the decree herein becoming executable against the respondent Nos. 1 and 2 or 3, the respondent No. 2 and the Companies listed in Schedule "C" as well as the said Western Press Pvt. Ltd. and the said employee occupying the flat as per Schedule A-2, undertake to this Hon'ble Court that on sale in execution being held and sanctioned by this Hon'ble Court the respondent No. 2 and the said companies mentioned in the Schedule B hereto shall hand over the possession of the premises mentioned in Schedules A-1 to A-3 hereto to the purchaser. 13. The companies mentioned in the Schedules "B" and "C" and the said employee will within one week from today file separate affidavits declaring that they have no right, title or interest in the premises mentioned in Schedules "A-1 to A-3", hereto as also giving the undertaking to this Hon'ble Court to vacate the premises in their occupation in the event happening as stated above." ;