Petitioner Granted Bail in Cheque Misuse Case Under Companies Act Section 212(6) Due to Lack of Arrest.

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....Seeking grant of Regular bail - misuse of cheque discounting facilities - diversion and siphon-off the borrowed funds - section 447 of the Companies Act - Despite having the power under section 212(8) of the Companies Act, to arrest the petitioner in the course of investigation, the investigating officer did not arrest the petitioner, by which it can reasonably be inferred that the officer did not have reason to believe that the petitioner was guilty of any offence punishable under the concerned sections of the Companies Act - The petitioner is entitled to benefit of the proviso to section 212(6) of Companies Act - HC....