2019 (11) TMI 347

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The Petitioner. Ms Maninder Acharya, ASG with Mr Anurag Ahluwalia, CGSC, Mr Ajay Digpaul, CGSC and Mr Abhigyan Sidhant, Mr Amit Mahajan, CGSC for UOI with Mr Arjun Dev, For The Respondent. ORDER CRL.M.A. 37011/2019 in BAIL APPLN. 2454/2019 CRL.M.A. 37013/2019 in BAIL APPLN. 2455/2019 1. Allowed, subject to all just exceptions. BAIL APPLN. 2454/2019 & CRL.M.A. 37010/2019 BAIL A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Bhushan Steel Ltd. and Bhushan Energy Ltd. were siphoned off through a complex web of companies. The complainant indicates that there are three layers of incorporated companies that have been used for the aforesaid purpose. This also includes several shell companies, wherefrom and funds were siphoned off by accommodation entries. The petitioner in Bail Application No. 2455/2019 (Ritu Singal) is t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ring for the respondent has contested these petitions, essentially, on three grounds. First, she submits that the petitions are not maintainable as the anticipatory bail is required to be granted during the investigation phase. She states that the petitioners are required to seek regular bail in accordance with law. Second, she submits that in terms of Section 212(6) of the Companies Act, 2013 the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....en the consideration it deserves. However, given the peculiar facts and circumstances of this case; considering that the petitioner (Shri Brij Bhushan) is 82 years of age and was not been arrested during the span of investigation and considering that Smt. Ritu Singal is aged 47 years and is woman and a part of the family, which allegedly control the companies, this Court is of the view that it wou....