https://www.taxtmi.com/caselaws?id=185166 Section 169 of the Indian Penal Code requires a legally enforceable prohibition on purchase, and breach of a ministerial code of conduct could not supply that ingredient; the charge therefore failed. The corruption and breach of trust charges also failed because the prosecution did not prove undervaluation beyond reasonable doubt, wrongful loss to the company, wrongful gain to the purchasers, or dishonest misappropriation in a transparent open tender process. The conspiracy charge likewise failed because the evidence did not show an agreement or meeting of minds to obtain an unfair advantage. The acquittal was accordingly affirmed. en-us Mon, 24 Nov 2003 00:00:00 +0530 Wed, 03 Jul 2024 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185166 Section 169 of the Indian Penal Code requires a legally enforceable prohibition on purchase, and breach of a ministerial code of conduct could not supply that ingredient; the charge therefore failed. The corruption and breach of trust charges also failed because the prosecution did not prove undervaluation beyond reasonable doubt, wrongful loss to the company, wrongful gain to the purchasers, or dishonest misappropriation in a transparent open tender process. The conspiracy charge likewise failed because the evidence did not show an agreement or meeting of minds to obtain an unfair advantage. The acquittal was accordingly affirmed. Case-Laws Indian Laws Mon, 24 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185166