Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2022 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 367 - HC - Companies LawSeeking grant of regular bail - Applicant is a Chartered Accountant and one of the partners at ASRN & Associates - failure to perform his duty independently and diligently by not verifying the stock in transit - allegation of collusion with the office bearers of M/s Bhushan Steel Limited as well - satisfaction of twin conditions under section 212(6) of the Companies Act, 2013 or not - HELD THAT:- Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the Applicant should be treated any differently. The summoning order was issued on 16.08.2019 and the Applicant had not been arrested till 01.06.2022 without there being any protection in favour of the Applicant. There is also no reason shown for seeking judicial custody of the Applicant. Applicability of legal embargo of Section 212(6) - HELD THAT:- Sub-section-(i) has duly been complied with, as the Public Prosecutor (Ld. CGSC) has been given a chance to oppose the bail application. I am prima facie of the view that the Applicant is not guilty of the offence of which he is charged with, and therefore, it is opined that he is not likely to commit any further offence while on bail. Hence, sub-section (ii) of Section 212(6) is also complied with. There are no merit in the contentions and submissions of the learned CGSC - application allowed.
|