https://www.taxtmi.com/caselaws?id=312957 Bombay HC granted bail to a 63-year-old applicant accused under Section 447 of Companies Act, 2013 for allegedly defrauding a bank through false stock valuation. The court found prima facie grounds that the offense may not be attracted, noting the forensic audit showed genuine business losses without financial irregularities and that alleged fund transfers appeared to be legitimate transaction squaring. Considering the applicant's age, medical condition requiring constant treatment, 18-month custody period, completed investigation, no criminal antecedents, and no flight risk, bail was granted with conditions including Rs. 1 lakh bond and Rs. 5 crore deposit. en-us Tue, 03 Oct 2023 00:00:00 +0530 Fri, 15 Mar 2024 17:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312957 Bombay HC granted bail to a 63-year-old applicant accused under Section 447 of Companies Act, 2013 for allegedly defrauding a bank through false stock valuation. The court found prima facie grounds that the offense may not be attracted, noting the forensic audit showed genuine business losses without financial irregularities and that alleged fund transfers appeared to be legitimate transaction squaring. Considering the applicant's age, medical condition requiring constant treatment, 18-month custody period, completed investigation, no criminal antecedents, and no flight risk, bail was granted with conditions including Rs. 1 lakh bond and Rs. 5 crore deposit. Case-Laws Companies Law Tue, 03 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312957