https://www.taxtmi.com/caselaws?id=431710 Allegations of false statements and material omissions under the Companies Act were treated as attracting Section 448, which deems a person liable under Section 447 where a required document contains a false statement or omits a material fact. The petitioner's claim of being a dummy director was not supported by the record; participation in company affairs and signature on financial statements were relied on instead. The complaint and investigation were viewed as disclosing serious economic misconduct involving inflated figures and diversion of funds across multiple companies, and the stricter approach to bail in economic offences was applied. Regular bail was therefore rejected, and parity with co-accused was not accepted. en-us Fri, 09 Dec 2022 00:00:00 +0530 Mon, 19 Dec 2022 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431710 Allegations of false statements and material omissions under the Companies Act were treated as attracting Section 448, which deems a person liable under Section 447 where a required document contains a false statement or omits a material fact. The petitioner's claim of being a dummy director was not supported by the record; participation in company affairs and signature on financial statements were relied on instead. The complaint and investigation were viewed as disclosing serious economic misconduct involving inflated figures and diversion of funds across multiple companies, and the stricter approach to bail in economic offences was applied. Regular bail was therefore rejected, and parity with co-accused was not accepted. Case-Laws Companies Law Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431710