https://www.taxtmi.com/caselaws?id=111850 Criminal breach of trust and criminal conspiracy require proof of entrustment, dishonest misappropriation and an unlawful agreement; those ingredients were not established for the CANCIGO transactions because the dealings were carried out with broker funds, with institutional knowledge and participation, and the transfer restriction was only contractual. The related civil proceeding had upheld the transaction as valid, and no grievance by the name-holding entities was shown, so the convictions on those counts could not stand. Receiving stolen property also failed because the units were purchased with the appellant's own funds and were not shown to be stolen property. The Prevention of Corruption Act charges likewise failed, as no unlawful pecuniary advantage or independent illegality was proved, and the accused were acquitted. en-us Fri, 16 May 2008 00:00:00 +0530 Wed, 14 Aug 2013 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111850 Criminal breach of trust and criminal conspiracy require proof of entrustment, dishonest misappropriation and an unlawful agreement; those ingredients were not established for the CANCIGO transactions because the dealings were carried out with broker funds, with institutional knowledge and participation, and the transfer restriction was only contractual. The related civil proceeding had upheld the transaction as valid, and no grievance by the name-holding entities was shown, so the convictions on those counts could not stand. Receiving stolen property also failed because the units were purchased with the appellant's own funds and were not shown to be stolen property. The Prevention of Corruption Act charges likewise failed, as no unlawful pecuniary advantage or independent illegality was proved, and the accused were acquitted. Case-Laws Companies Law Fri, 16 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111850