https://www.taxtmi.com/caselaws?id=97384 Property delivered under a limited pledge arrangement remained entrusted property, and the appellant's use of the securities as if they were the bank's absolute assets amounted to criminal breach of trust under section 409 IPC. The Court held that dominion over the securities, dishonest intention, and wrongful loss to the co-operative bank were established, while the pleas of mistake of fact and mistake of law failed. It further held that prior sanction under section 179 of the Indian Companies Act was not required because the prosecution was not one initiated by the official liquidator in the company's name. The charge was found sufficiently specific, and no prejudice or failure of justice was shown. en-us Fri, 04 May 1956 00:00:00 +0530 Mon, 08 Sep 2014 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97384 Property delivered under a limited pledge arrangement remained entrusted property, and the appellant's use of the securities as if they were the bank's absolute assets amounted to criminal breach of trust under section 409 IPC. The Court held that dominion over the securities, dishonest intention, and wrongful loss to the co-operative bank were established, while the pleas of mistake of fact and mistake of law failed. It further held that prior sanction under section 179 of the Indian Companies Act was not required because the prosecution was not one initiated by the official liquidator in the company's name. The charge was found sufficiently specific, and no prejudice or failure of justice was shown. Case-Laws Companies Law Fri, 04 May 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97384