https://www.taxtmi.com/caselaws?id=423789 Criminal proceedings against a company were quashed where the alleged loss had been fully settled with the bank, a no dues certificate had been issued, and recovery proceedings withdrawn. The Court noted that most co-accused had been discharged or the proceedings against them had abated, leaving no effective foundation for the conspiracy allegation. It also held that Prevention of Corruption Act offences could not be sustained against a private person without the public servant basis of the charge, and that a company, as a juristic person, could not be sentenced to imprisonment. The prosecution was therefore treated as an abuse of process and brought to an end in exercise of inherent powers. en-us Mon, 13 Jun 2022 00:00:00 +0530 Wed, 15 Jun 2022 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423789 Criminal proceedings against a company were quashed where the alleged loss had been fully settled with the bank, a no dues certificate had been issued, and recovery proceedings withdrawn. The Court noted that most co-accused had been discharged or the proceedings against them had abated, leaving no effective foundation for the conspiracy allegation. It also held that Prevention of Corruption Act offences could not be sustained against a private person without the public servant basis of the charge, and that a company, as a juristic person, could not be sentenced to imprisonment. The prosecution was therefore treated as an abuse of process and brought to an end in exercise of inherent powers. Case-Laws Indian Laws Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423789