Bail for Terrorist - jail for businessman?
AS per Section 212(6) of the Companies Act 2013;
For certain offences, no person shall be released on bail unless the prosecutor has been given notice and where the prosecutor opposes it, the court is satisfied that reasonable grounds for believing that the person is not guilty of the offences.
There was such a provision in the Prevention of Terrorism Act (POTA). POTA was repealed, but this provision was inserted in the Companies Act.
This kind of draconian provisions was sought to be deleted from the statute by the Companies (Amendment) Bill 2014 which the Lok Sabha passed yesterday.
Replying to the debate, Finance Minister Arun Jaitley said, "When we invite the rest of the world to come to India, form a company, do business and invest in India, are we trying to say that in case you commit any of these offences you will never get bail ?"