HC refused bail to director accused for fraudulent use of mutual fund units of public company

COMPANY LAW/SEBI : Where charge sheet was filed before trial court against accused AFL, its director 'A' for fraudulent transfer of mutual fund and IL&FS and against applicant Chief Business Head of IL&FS for facilitating him in utilization of said mutual fund worth Rs. 344.07 crores of complainant company from its demat account for getting margin in derivative trading and applicant on arrest was seeking grant of bail, it was held that applicant was in a fiduciary capacity and had allegedly comm

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