Court Rejects Bail Due to Alleged Brokerage in Provident Fund Investment Decisions

Ayodhya Prasad Mishra Vs State of U.P. (Allahabad High Court) The bail application under Section 439 Cr.P.C. was filed in connection with FIR No. 540 of 2019 registered under Sections 409, 420, 467, 468, 471 and 120B IPC, with Section 13(2) of the Prevention of Corruption Act added during investigation. The FIR was lodged on 2 November 2019 by the Secretary of the Trust of Uttar Pradesh Power Corporation Limited (UPPCL). The applicant, who served as Managing Director of UPPCL, was later implicated during investigation. The case concerns alleged irregular investments of the General Provident Fu...