Granted bail on medical grounds to a person accused of misusing public funds and reinvesting the same in other businesses

Last updated: 04 August 2021

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The Karnataka High Court granted bail to the founder of Kanva Souhardha Co-operative Credit Limited on medical grounds. The petitioner, accused of misusing public funds and reinvesting them in various businesses, argued for his release due to chronic illnesses. The court, referencing previous judgments, allowed bail to ensure the petitioner's medical treatment, provided strict conditions were met, including a substantial bond and regular court appearances.

Court :
Karnataka High Court

Brief :
In Sri Nanjundaiah v. Union of India Directorate of Enforcement, Karnataka, The State of Karnataka Bengaluru [C.P. No. 45 of 2021 connected with C.P. No. 43 of 2021 dated July 28, 2021], Sri Nanjundaiah ('the Petitioner'), the founder of Kanva Souhardha Co-operative Credit Limited ('Society') has filed the Bail Application in Special Criminal Case No.846/2020 registered by the Directorate of Enforcement ('the Respondent') for the offence punishable under Section 4 of the Prevention of Money Laundering Act, 2002 ('PML Act').

Citation :
C.P. No. 45 of 2021 connected with C.P. No. 43 of 2021 dated July 28, 2021

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Judgement posted by

Bimal Jain

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FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more

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