Centrum Financial Services Ltd. vs. State of NCT of Delhi & Anr. (SC)

Code of Criminal Procedure, 1973–Sec. 439–Penal Code, 1860–Secs. 409,420, 467, 468, 471 & 120-B–Granting of bail–Justification–High Court lost sight of the basic principles for granting the bail–It did not consider the modus operandi adopted by the accused in the commission of the serious offence of siphoning and /or transferring the huge sum to another Company through shall Companies–Status report submitted by I.O. was also not considered–Impugned order is liable to be quashed and set aside.