HC: No bail to CA for offence pertaining to non-disclosure under IndAS

Nittin Johari Vs SFIO (Delhi High Court) Conclusion: Since offences pertaining to the non-disclosure of the documents which were required under Indian Accounting Standards (IndAS) alleged against assessee- chartered accountant were serious in nature which involved fraud to the tune of several crores and the offence being an economic one which affected the economy of the nation, assessee was not entitled for bail under Section 439 Cr.P.C and Section 212(6) of the Companies Act, 2013. Held: Assessee was a Chartered Accountant (CA) cum Chief Financial Officer (CFO) and the whole time director of ...