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2023 (8) TMI 479 - SCH - Money LaunderingRejection of Bail - appellant remanded to District Jail - appellant not accused in individual capacity - HELD THAT:- Having regard to the fact that the appellant – Sachin Bhati is not an accused in his individual capacity, the trial court was not right either directing the appellant – Sachin Bhati to appear as the authorized representative of the three companies, or in sending him to judicial custody. The aforesaid three companies are being prosecuted and can be represented by any person in accordance with law and as per Section 309 of the Code of Criminal Procedure, 1973. In STANDARD CHARTERED BANK VERSUS DIRECTORATE OF ENFORCEMENT [2005 (5) TMI 327 - SUPREME COURT], the majority opinion held that a corporation or a company though the juristic person can be prosecuted for offence punishable under law, but being a juristic person custodial sentence cannot be imposed. Thus, the direction given to send/remand the appellant – Sachin Bhati to judicial custody is unsustainable in law and, therefore, set aside - appeal allowed.
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