Ballarpur Industries Ltd vs State Rep.By Dy.Supdt.Of ...

The Supreme Court upheld the High Court's decision to set aside the trial court's order discharging the appellant under Section 420 IPC, affirming that a company can be prosecuted for offences with mandatory imprisonment and fine, as established in Standard Chartered Bank & Ors. Vs. Directorate of Enforcement & Ors. (2005) 4 SCC 530. The Court clarified that while a company cannot be sentenced to imprisonment, it can still face prosecution and penalties in the form of fines. The appeal was dismissed, allowing the appellant to seek a fresh discharge application based on new evidence from the Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT).