https://www.taxtmi.com/caselaws?id=457288 Bombay HC dismissed bail application in money laundering case involving cheating, criminal breach of trust, and forgery under IPC Sections 120B, 420 and Prevention of Corruption Act. Applicant, an internal auditor, allegedly facilitated siphoning of Rs.500 crores through credit card swapping, forged balance sheets, and diverted Rs.1997 crores from Rs.3642 crores loan from Yes Bank. Court held economic offences constitute serious fraud affecting country's financial health, requiring strict approach to bail. Applicant's failure to check illegal fund flow and prima facie involvement in bankruptcy warranted denial of bail. en-us Mon, 20 Dec 2021 00:00:00 +0530 Fri, 13 Sep 2024 17:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457288 Bombay HC dismissed bail application in money laundering case involving cheating, criminal breach of trust, and forgery under IPC Sections 120B, 420 and Prevention of Corruption Act. Applicant, an internal auditor, allegedly facilitated siphoning of Rs.500 crores through credit card swapping, forged balance sheets, and diverted Rs.1997 crores from Rs.3642 crores loan from Yes Bank. Court held economic offences constitute serious fraud affecting country's financial health, requiring strict approach to bail. Applicant's failure to check illegal fund flow and prima facie involvement in bankruptcy warranted denial of bail. Case-Laws Money Laundering Mon, 20 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457288