https://www.taxtmi.com/caselaws?id=425570 Bail under Section 212(6) of the Companies Act was considered in a prosecution alleging corporate fraud and IPC offences. The Court found the statutory precondition of hearing the Public Prosecutor satisfied, and on a prima facie assessment held that the applicant was not guilty of the charged offences and was not likely to commit any further offence while on bail. It also noted that the applicant's role was confined to alleged lapses in discharge of banking duties, similarly placed co-accused had already obtained bail, and no material showed a specific role in siphoning or wrongful encashment. Bail was granted. en-us Fri, 22 Jul 2022 00:00:00 +0530 Wed, 27 Jul 2022 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425570 Bail under Section 212(6) of the Companies Act was considered in a prosecution alleging corporate fraud and IPC offences. The Court found the statutory precondition of hearing the Public Prosecutor satisfied, and on a prima facie assessment held that the applicant was not guilty of the charged offences and was not likely to commit any further offence while on bail. It also noted that the applicant's role was confined to alleged lapses in discharge of banking duties, similarly placed co-accused had already obtained bail, and no material showed a specific role in siphoning or wrongful encashment. Bail was granted. Case-Laws Companies Law Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425570