Special Court jurisdiction is confined to statutory-period securities claims; post-period assignment disputes must go to civil court.

The Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 has jurisdiction only over claims connected with attached property and securities transactions within the statutory period. An alleged assignee relying on an assignment executed after that period could not invoke the Special Court to test the validity or effect of the later assignment, seek substitution, or claim the dividend. Such disputes between assignor and assignee, including rival claims and cancellation issues, fall within the ordinary civil court's jurisdiction. The Special Court could not enlarge its statutory mandate by treating the applicant as a transferee or representative for a transaction outside the scheme of the Act.

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Issues: Whether the Special Court had jurisdiction to entertain and decide the claim of an alleged assignee arising from an agreement to assign executed after the statutory period, and whether such assignee could seek substitution or execution before the Special Court.

Analysis: The Special Court's jurisdiction under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 is confined to claims relating to attached property and to transactions in securities within the statutory period. The agreement to assign relied upon by the applicant was executed in 1995, well outside the statutory period. The dispute between the assignor and assignee concerned the validity and effect of that post-statutory agreement, including competing claims and cancellation, which were matters for the ordinary civil court and not for the Special Court. The Special Court was not bound by the Code of Civil Procedure and could not enlarge its jurisdiction by treating the applicant as a transferee or representative in respect of a transaction outside the statutory scheme.

Conclusion: The Special Court had no jurisdiction to go into the validity or enforcement of the post-statutory assignment, and the applicant could not be brought on record or claim the dividend before that forum.

Final Conclusion: Claims founded on transactions outside the statutory period must be pursued before the competent civil court, not before the Special Court dealing with attached assets and securities transactions within the Act.

Ratio Decidendi: The Special Court under the Act can adjudicate only claims arising from securities transactions within the statutory period and connected with attached property; disputes based on later independent assignments fall outside its jurisdiction and must be resolved by the ordinary civil court.

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