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COMPANY LAW UPDATES AND JUDGMENTS The issue arose when the Supreme Court examined the source of the Rs. 50 crore deposit made by the petitioner as a bail condition. It was stated that the amount had been taken from Bhasin Infotech and Infrastructure Private Limited (BIIPL), the company whose director is the petitioner. The Court was therefore required to consider whether company funds could be used for the personal benefit of a director without compliance with Section 185 of the Companies
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