https://www.taxtmi.com/caselaws?id=417674 Allegations of large-scale corporate fraud, falsification of financial statements and books, and diversion of funds through letters of credit were treated as a serious economic offence affecting public interest. The Court found prima facie material showing reasonable grounds to believe the applicant's involvement, so the twin conditions for bail under Section 212(6)(ii) of the Companies Act, 2013 were not satisfied. It further held that the seriousness of the offence and the available material did not justify bail under Section 439 of the Code of Criminal Procedure. The medical plea was rejected for lack of supporting material. en-us Fri, 28 Jan 2022 00:00:00 +0530 Sat, 29 Jan 2022 08:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417674 Allegations of large-scale corporate fraud, falsification of financial statements and books, and diversion of funds through letters of credit were treated as a serious economic offence affecting public interest. The Court found prima facie material showing reasonable grounds to believe the applicant's involvement, so the twin conditions for bail under Section 212(6)(ii) of the Companies Act, 2013 were not satisfied. It further held that the seriousness of the offence and the available material did not justify bail under Section 439 of the Code of Criminal Procedure. The medical plea was rejected for lack of supporting material. Case-Laws Companies Law Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417674