In Brief
An accused director of a real estate company was arrested after an FIR for allegedly misappropriating flat buyers' funds under sections 406 and 420 IPC. After initial bail rejection, the trial court's cognizance was set aside; the appellant obtained bail but was recommitted for non-disclosure of earlier bail rejections. The Supreme Court held that while such non-disclosure was misconduct, the completed investigation, filed chargesheet, and NCLT's approval of a resolution plan constituted material changes warranting bail. The Court ruled that indefinite detention pending trial is unjustified once custody's primary purpose—facilitating chargesheet preparation—is served.
The lawyer headnote and full judgment text are available to registered users.