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KULDEEP TIWARI
Praveen Sharma – Appellant
Versus
Serious Fraud Investigation Officer – Respondent
JUDGMENT
Mr. Kuldeep Tiwari, J.
Through the instant petition, as cast under Section 438 of the Cr.P.C., the petitioner, who claims himself to be an "Independent Director" of SRS Finance Limited, craves for him being granted the relief of anticipatory bail, in Criminal Complaint No.17 of 2021, titled as "Serious Fraud Investigation Office v. SRS Limited and others".
2. The principal cause behind the petitioner rushing to this Court, is the issuance of warrants of arrest against him in the complaint (supra), owing to his non-appearance before the learned Special Judge concerned, despite him being summoned vide order dated 16.08.2021.
3. Though the learned counsel for the petitioner, in his beseeching the grant of relief (supra), has made manifold arguments, however, the essence of his arguments is embedded in the petitioner being safeguarded by the provisions of Section 149(12) of the Companies Act, 2013. By taking shelter under this Section, he has argued that when the petitioner, who is an "Independent Director", neither had any knowledge about any acts of omission or commission by the company, nor such acts were done with his consent or connivance, nor anything suggestive qua him no
Anticipatory bail in economic offences requires stringent scrutiny; the petitioner failed to demonstrate immunity from liability under the Companies Act due to involvement in falsified financial stat....
(1) Anticipatory bail – Anticipatory bail should not be granted as a matter of routine, particularly in serious economic offences, involving large scale fraud, public money or complex financial crime....
Anticipatory bail should not be granted routinely in serious economic offences involving large-scale fraud, as custodial interrogation is crucial for effective investigation.
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