Supreme Court · 2005 INSC 259 · Decided 5 May 2005

Standard Chartered Bank and ORS. ETC. v. Directorate of Enforcement and ORS. ETC.

Court: Supreme Court of India
Citation: 2005 INSC 259 · [2005] SUPP. 1 S.C.R. 49
Case number: CIVIL APPEAL No. 1748/1999
Decided: 5 May 2005
Bench: N. SANTOSH HEGDE, K.G. BALAKRISHNAN, D.M. DHARMADHIKARI, ARUN KUMAR, B.N. SRIKRISHNA (5-judge bench)
Case type: Civil
Acts & sections cited: Constitution

Headnote

Company Laws: Corporate criminal liability-Offence by Company or Corporate body- C Punishable with mandatory sentence of imprisonment coupled with fine Prosecution under-Held: When statute provides for imprisonment and fine for offence by Company, even though person cannot be sentenced to imprisonment, Court can impose punishment of fine-Company is not immuned from any prosecution for serious offence-Such discretion can D be read into statute-Foreign Exchange Regulation Act, I 97 3-Section 56(1 )(i). Doctrine of impossibility of performance-Maxim-Lex

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