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New Delhi: the provisions of section 209A of the Companies Act.
Diljeet Titus, managing partner of the corporate law firm, Titus & Co, told FE, “Immediately after Raju’s admission of cheating and breach of trust, the RoC should have filed a one-line FIR based on which the Hyderabad police should have seized all important records and correspondences. A detailed FIR could have followed.”
Titus said that due to the lapse, it will now become difficult for the investigating agencies to probe the complicity of other officials, as they would have enough time to destroy evidence.
“It appears the company has been forging existing transactions or fudging new transactions. Therefore, there is a lot of electronic evidence, which can be collated from the computer systems and networks that has to be secured before it is deleted. If electronic forging has been done, the company will be booked under the Section 464 under the Indian Penal Code by the IT Act 2000 for creating false electronic records plus section 466 for forging an electronic record. An overriding Section 66 will apply against the offence of hacking defined as d iminishing the value or utility of information residing in a computer. The fact that this kind of information would be available with the top management of the company, which itself is now in charge of its operations, is worrisome, as this kind of evidence can be easily deleted,” said cyber law expert Pavan Duggal. ...
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