Supreme Court of India

Religare Finvest Limited v. State of Nct of Delhi & Anr.

Neutral citation

Reported as [2023] 12 S.C.R. 197

Bench S. Ravindra Bhat and Aravind Kumar JJ.

Decided 11 September 2023

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

2 Supreme Court benches have cited this judgment.

From the headnote

Issue for consideration: Whether a transferee entity-a successor bank (DBS Bank) can be fastened with corporate crim inal liability for the oﬀ ences which the amalgamating entity-the erst while Laxmi Vilas Bank (LVB) is accused of. Criminal Law – Corporate criminal liability – When cannot be fastened on a transferee entity: Held: Criminal liability of a company cannot be transferre d ipso facto, except when it is in the nature of penalty procee ding – Only deﬁ ned legal proceedings are succeeded to by the t ransferee company, which is the DBS Bank in the instant case – Further , every scheme

Authorities it was built on

1990 Saraswati Industrial Syndicate Ltd. v. C.I.T., Haryana, Himachal Pradesh, Delhi cited by 4
1986 General Radio & Appliances Co. Ltd. & Ors. v. M.A. Khader (dead) by Lrs. cited by 4
1989 Sham Sundar & Ors. v. State of Haryana cited by 3
2007 State. Nct of Delhi v. Malvinder Singh cited by 3
2014 Mcleod Russel India Limited v. Reg. Provident Fund Commissioner, Jalpaiguri cited by 2
1997 Kanta Udharam Jagasia v. C.K.S. Rao cited by 1

Where later benches applied it

2026 Aspinwall and Co. Ltd. v. The Inspecting Assistant Commr. referred to
2026 M/s Jindal Equipment Leasing Consultancy Services Ltd. v. Commissioner of Income Tax referred to

Of those, 2 referred to

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