Code of Criminal Procedure, 1973–Sec. 437 & 439–Penal Code, 1860–Secs. 409, 420, 467, 468, 471, 477-A & 120-B Bail granted by High Court–Justification–Many investors suffered a loss due to fraud and fundding the accounts of Company, manipulation of record and by showing incorrect and inflicted figures in balance sheets–Director of Company, internal and external auditors were involved in the offence–Directions for day to day trial–A-4 & A-10 were internal and external auditors of Company who were enlarged on bail Specific allegations that they were party to the criminal conspiracy showing inflated cash and bank balance–Held, High Court ought to not grant them bail–Bail cancelled.
