LawLoveLegal

Delhi HC Grants Bail in High-Profile Fraud Case  Involving Rs 344 Crores Issue of the Case The key issue in this case is whether V Hans Prakash, accused in a high-profile fraud involving the alleged transfer of Rs 344 crores worth of mutual funds and securities, is entitled to bail pending trial. The primary concerns include the sufficiency of the evidence, the necessity of custodial detention, and the flight risk of the accused. Facts of the Case Background: The Delhi High Court recently granted bail to V Hans Prakash, who was accused in a significant fraud case involving the fraudulent transfer of mutual funds and securities worth Rs 344 crores held by Dalmia Cements Bharat Ltd. This decision was rendered by Justice Amit Mahajan on August 7. Details of the Allegation: - Companies Involved: Dalmia Cements Bharat Ltd, and its subsidiaries OCL India Limited and Dalmia Cement East Ltd, which had mutual fund investments managed by Allied Financial Services Pvt. Ltd (AFSPL). - Fraudul...

Delhi High Court to Rule on Bibhav Kumar's Plea Against  Arrest in Swati Maliwal 'Assault' Case                 The Delhi High Court is set to deliver a crucial verdict on July 1, 2024, regarding the maintainability of a plea filed by Bibhav Kumar, a close aide of Delhi Chief Minister Arvind Kejriwal. Kumar is seeking a declaration that his arrest by Delhi Police in connection with the Swati Maliwal assault case was illegal. Background of the Case Bibhav Kumar was arrested by the Delhi Police on May 18, 2024, following an FIR registered by Rajya Sabha MP Swati Maliwal, who alleged assault. Kumar’s plea contends that his arrest was in violation of legal procedures, particularly the guidelines outlined in Section 41A of the Criminal Procedure Code (CrPC). Court Proceedings Justice Swarna Kanta Sharma reserved the order on the maintainability of Kumar's plea after hearing arguments on May 31, 2024. Senior Advocate N Hariharan, representing Kumar...