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PUNJAB AND HARYANA HIGH COURT AT CHANDIGARH
KULDEEP TIWARI
Serious Fraud Investigation Office – Appellant
Versus
Sanjay Aggarwal – Respondent
JUDGMENT :
Kuldeep Tiwari, J.
The gravamen of the instant petition is ingrained in the im-pugned order of bail, inasmuch as, despite the respondent being allegedly an active partner in commission of a huge financial scam, yet he has been enlarged on regular bail by the learned trial Court concerned, whereas, his co-accused, who is on a co-equal pedestal as him, has been declined the relief of bail upto the Hon'ble Supreme Court.
2. The prime grievance woven by the petitioner in the instant petition, is that, the learned trial Court concerned, while granting regular bail to the respondent vide order dated 01.06.2023 (Annexure P-1), has turned a blind eye to the material facts indicative of respondent's culpability in commission of a serious economic office. Consequently, the instant petition, as cast under Section 482 read with Section 439(2) of the Cr.P.C. and wherein becomes assailed the order (supra), aims at securing the relief of cancellation of bail granted to the respondent.
SUBMISSIONS OF THE LEARNED COUNSEL FOR THE PETITIONER
3. The principal argument of the learned counsel for the petitioner stems from there being utter defiance of the stringent conditions, as envisaged under S
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....
The High Court ruled that bail cannot be granted without satisfying the stringent conditions of Section 212(6) of the Companies Act, emphasizing the necessity of compliance with statutory requirement....
Cancellation of Bail - Economic offences - Violation of Rules of RBI - Sanction of Loans - Continued detention of respondent No.2 in this FIR case is necessary not only to unearth the conspiracy hatc....
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