Supreme Court · 2023 INSC 819 · Decided 11 September 2023
Religare Finvest Limited v. State of NCT of Delhi & ANR.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 819 · [2023] 12 S.C.R. 197
- Case number
- CRIMINAL APPEAL No. 2242/2023
- Decided
- 11 September 2023
- Bench
- S. RAVINDRA BHAT, ARAVIND KUMAR (2-judge bench)
- Outcome
- Disposed off
- Case type
- Criminal
- Acts & sections cited
- IPC Section 409, 120B
Headnote
HEADNOTES Issue for consideration: Whether a transferee entity-a successor bank (DBS Bank) can be fastened with corporate criminal liability for the off ences which the amalgamating entity-the erstwhile Laxmi Vilas Bank (LVB) is accused of. Criminal Law - Corporate criminal liability - entity: Held: Criminal liability of a company cannot be transferred ipso facto, except when it is in the nature of penalty proceeding - Only defi ned legal proceedings are succeeded to by the transferee company, which is the DBS Bank in the instant case - Further, every scheme
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