No Bail in Corporate Fraud u/s 447 of Companies Act Without Satisfying Two Key Conditions: Supreme Court

The Supreme Court ruled that bail cannot be granted in cases of corporate fraud under Section 447 of the Companies Act without satisfying two key conditions. Section 447 deals with the offense of fraud involving companies. The apex court's directive emphasizes the seriousness of corporate fraud and imposes stringent criteria for the release of accused individuals on bail, requiring the court to be satisfied that the accused will not abscond or tamper with evidence if released.