https://www.taxtmi.com/caselaws?id=460819 The HC dismissed a bail application under Section 447 of the Companies Act, 2013, involving alleged siphoning of approximately 10,000 crores through shell and puppet companies. The court found the petitioner played a pivotal role in the economic offense, citing witness statements including a statutory auditor's testimony. The court held that serious white-collar crimes by educated, influential persons warrant strict scrutiny, and the petitioner failed to satisfy conditions under Section 212(6)(ii) for bail. Given the magnitude of the offense affecting society, the court deemed granting bail premature and dismissed the petition. en-us Thu, 20 Oct 2022 00:00:00 +0530 Sat, 22 Feb 2025 08:44:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460819 The HC dismissed a bail application under Section 447 of the Companies Act, 2013, involving alleged siphoning of approximately 10,000 crores through shell and puppet companies. The court found the petitioner played a pivotal role in the economic offense, citing witness statements including a statutory auditor's testimony. The court held that serious white-collar crimes by educated, influential persons warrant strict scrutiny, and the petitioner failed to satisfy conditions under Section 212(6)(ii) for bail. Given the magnitude of the offense affecting society, the court deemed granting bail premature and dismissed the petition. Case-Laws Companies Law Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460819