Corporate fraud investigation response, cheating and criminal breach of trust defence, bank fraud proceedings, SEBI and RBI enforcement, anticipatory bail and trial representation.
Short, direct, on the record.
Section 420 IPC (now Section 318 BNS) covers general cheating and applies to any person. Section 447 Companies Act specifically covers fraud in relation to affairs of a company and is investigated by SFIO. Section 447 carries a minimum 6 months imprisonment and can extend to 10 years with fine equal to the fraud amount or three times the fraud amount.
Yes. Directors and officers in default can be arrested for company fraud under Section 447 of the Companies Act. The SFIO can also arrest under Section 212(8) without warrant. Courts have emphasised that arrests should not be routine and must be justified by specific circumstances including flight risk, evidence tampering or witness intimidation.
Economic offences are treated with severity in bail jurisprudence. The Supreme Court has held that economic offences of large magnitude affecting the financial health of the country must be treated differently from ordinary crimes. However, bail cannot be denied solely on the gravity of the offence and must consider the specific facts and circumstances.
Yes. Companies can be prosecuted as separate legal entities. The Supreme Court in Iridium India Telecom (2011) confirmed that companies can be prosecuted for offences requiring mens rea, with the guilty mind attributed through controlling officers. Penalties include fines, and directors or officers in default can face imprisonment.
Share the offence nature, investigation stage and the defence requirement for a confidential preliminary assessment.