MONORANJAN Vs. STATE OF RAJASTHAN

JUDGEMENT

(1.) Petitioner has filed this bail application under Section 439 of Cr.P.C.

(2.) F.I.R. No. 28/2017 was registered at Special Police Station S.O.G for offence under Sections 420, 406, 409, 467, 468, 471, 201, 120-B, of I.P.C. and Section 65 I.T. Act.

(3.) It is contended by counsel for the petitioner that petitioner is the Managing Director of Pincon Group of Companies. The total amount collected from the State of Rajasthan was to the tune of Rs. 16 crore. Properties worth about same amount is lying with the S.O.G. It is also contended that Managing Director is not responsible as held by the Apex Court in "Maksud Saiyed v. State of Gujrat and others " in Criminal Appeal No. 1248/2007 decided by the Apex Court on 18.09.2007 wherein in Para 13 it was observed by the Apex Court that the India Penal Code does not contain any provision for attaching vicarious liabilities on the part of the Managing Director or the Directors of the Company when the accused is the company. It is obligatory on the part of the complainant to make requisite allegation which would attract the provisions constituting vicarious liability.