https://www.taxtmi.com/caselaws?id=436568 Bail in the connected Bike Bot cases was refused because the Supreme Court's direction to club the FIRs and consider a composite supplementary charge sheet did not itself establish entitlement to release. The High Court relied on the materials showing direct receipt of investor funds in the applicant's bank accounts even before formal induction as Additional Director, which indicated active involvement in the scheme and benefit from the alleged embezzlement. It further noted that the proceeds were not returned to investors. On that factual basis, the Court held that bail was not warranted and rejected the applications. en-us Mon, 03 Apr 2023 00:00:00 +0530 Mon, 17 Apr 2023 08:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436568 Bail in the connected Bike Bot cases was refused because the Supreme Court's direction to club the FIRs and consider a composite supplementary charge sheet did not itself establish entitlement to release. The High Court relied on the materials showing direct receipt of investor funds in the applicant's bank accounts even before formal induction as Additional Director, which indicated active involvement in the scheme and benefit from the alleged embezzlement. It further noted that the proceeds were not returned to investors. On that factual basis, the Court held that bail was not warranted and rejected the applications. Case-Laws Indian Laws Mon, 03 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436568