Anticipatory Bail Upheld in Rs. 7 Crore Misappropriation Case Despite Grave Allegations.

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....The High Court dismissed the petitions seeking cancellation of anticipatory bail granted to accused Nos. 1 and 2, who were alleged to have misappropriated over Rs. 7 crores by misusing credentials and withdrawing funds from accounts, instead of paying statutory dues. Despite the grave allegations of economic offenses u/ss 406 and 420 of the Indian Penal Code, the court held that the offenses cannot be categorized as heinous. With the arrest of accused No. 1 and ongoing investigation, the court opined that their presence could be secured by imposing stringent conditions, and there were no justifiable grounds to cancel the anticipatory bail.....