https://www.taxtmi.com/caselaws?id=385802 For bail in a serious economic offence under Section 447 of the Companies Act, 2013, read with Section 212(6)(ii), the court must apply the special restriction together with the general principles under Section 439 CrPC. In grave economic offences, relevant factors include the nature of the accusations, magnitude of the loss, character of the evidence, risk of absconding or tampering with evidence, and larger public interest. The High Court's reliance on broad probabilities and the position of co-accused, without proper attention to the seriousness of the allegations and the governing bail principles, was found insufficient. The grant of bail was set aside and the matter was remanded for fresh consideration in accordance with law. en-us Thu, 12 Sep 2019 00:00:00 +0530 Sat, 09 Jul 2022 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385802 For bail in a serious economic offence under Section 447 of the Companies Act, 2013, read with Section 212(6)(ii), the court must apply the special restriction together with the general principles under Section 439 CrPC. In grave economic offences, relevant factors include the nature of the accusations, magnitude of the loss, character of the evidence, risk of absconding or tampering with evidence, and larger public interest. The High Court's reliance on broad probabilities and the position of co-accused, without proper attention to the seriousness of the allegations and the governing bail principles, was found insufficient. The grant of bail was set aside and the matter was remanded for fresh consideration in accordance with law. Case-Laws Indian Laws Thu, 12 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385802