Rakesh Jain v. State - S.409 IPC - Company Director - Presumption On Culpability

Indian Penal Code 1860 - Section 409 - The allegations of diversion of funds by the Company - In an offence punishable under Section 409 IPC there is no presumption regarding culpability of a Director. The same would have to be established in a trial. (Para 13) [Context: The appeal arose from a Delhi High Court order refusing to extend interim bail to Rakesh Jain, a director of M/s Pragat Akshay Urja Limited, accused in an FIR alleging diversion of subsidy funds under sections 409/120B IPC - The Court found it improper that the High Court had repeatedly deferred deciding the regular bail application for want of further deposit. The Court directed the High Court to decide the regular bail application expeditiously.]