Section 3 of SCOTSA : Section 3: Appointment And Functions Of Custodian

Explanation using Example

Imagine a situation where the Central Government suspects that a series of irregular securities transactions occurred between April 1991 and June 1992. To investigate and manage the assets involved, the government appoints a Custodian under Section 3(1) of the Special Court Act, 1992.

Upon gathering sufficient information, the Custodian believes that Mr. X has been involved in these illegal transactions. Acting under Section 3(2), the Custodian publishes Mr. X's name in the Official Gazette, notifying th...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.