Supreme Court of India

Standard Chartered Bank v. Andhra Bank Financial Services Ltd. & Ors

Neutral citation

Reported as [2006] SUPP. 2 S.C.R. 1

Bench Y.K. Sabharwal J.

Decided 5 May 2006

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

7 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that every one of the arguments put forward by SCB to impugn the story of CMF that it had paid consideration is justified and the Special Court was wrong in rejecting the arguments of SCB on this count.

Judgment, page 57

From the headnote

Special Courts (Trial of Offences Relating to Transactions in Securities) Act, J992: Section JO. Securities-Andhra Bank Financial Services Ltd. (ABFSL) made an offer to Nuclear Power Corporation Ltd. (NPCL) for placing Rs. JOO crores-Rs. 50 crores in 9% tax-free bonds and Rs. 50 crores in J 7% taxable bonds issued by NPCL-NPCL issued a letter of allotment (LOA) confirming the allotment o/9% tax-free bonds of the nominal value of Rs. 50 crores (suit bonds)-On the same day ABFSL sold the suit bonds to the Standard Chartered Bank (SCB) and issued a Cost Memo-Against the receipt of the said Cost

Authorities it was built on

2003 R.v.f Venkatachala Gounder v. Arulmigu Viswesaraswami and V.P. Temple and Anr. cited by 25
1954 Moran Mar Basselios Catholicos and Another v. Most Rev. Mar Poulose Athanasius and Others cited by 23
1973 Nagindas Ramdas v. Dalpatram Ichharam@ Brijram and Ors. cited by 21
1968 Gopal Krishnaji Ketkar v. Mahomed Haji Latif & Ors. cited by 12
1974 Vasudev Ramchandra Shelat v. Pranlal Jayanand Thakar and Ors cited by 9
1971 P. C. Purushothama Reddiar v. S. Perumal cited by 8
1965 Bhagwati Prasad v. Shri Chandramaul cited by 8
1988 Chuharmal S/0 Takarmal Mohnani v. Commissioner of Income-tax, M.P., Bhopal cited by 4
1953 Hiralal and Others v. Badkulal and Others cited by 4

Where later benches applied it

2024 Chalasani Udaya Shankar and Others v. M/s. Lexus Technologies Pvt. Ltd. and Others referred to
2023 Ifb Agro Industries Limited v. Sicgil India Limited and Others referred to
2019 M/s Natesan Agencies (plantations) v. State Rep. by the Secretary to Government Environment and Forests Department referred to
2015 Jai Mahal Hotels Pvt. Ltd. v. Raj Kumar Devraj & Ors. referred to
2015 Standard Chartered Bank v. Andhra Bank Financial Services Ltd & Ors. referred to
2012 Ayaaubkhan Noorkhan Pathan v. The State of Maharashtra & Ors. referred to
2022 Devas Multimedia Private Ltd. v. Antrix Corporation Ltd. & Anr distinguished

Of those, 1 distinguished · 6 referred to

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