Section 212(6) of the Companies Act, 2013 imposes twin conditions for granting bail to accused persons in cases involving serious frauds investigated by the SFIO – Sushant Muttreja Vs. Serious Fraud Investigation Office – Delhi High Court
January 10, 2025
These conditions are, that an offence covered under Section 447 of the Companies Act shall be cognizable and no person accused thereof shall be released on bail or on his own bond unless the Public Prosecutor has been given an opportunity to oppose the application for such release and where the Public Prosecutor opposes the application, the Court is satisfied that there are reasonable grounds for believing that he is not guilty of such offence and that he not likely to commit an offence while on bail.