S. 167(2)—Statutory bail the charge-sheet has not been filed

S. 167(2)—Statutory bail—Grant of—Offence of fraud, cheating and criminal breach of trust by Company Directors  The indefeasible right of an accused to seek statutory bail under Section 167(2), CrPC arises only if the charge-sheet has not been filed before the expiry of the statutory period. Non-filing of the charge-sheet within the statutory period is the ground for availing the indefeasible right to claim bail under Section 167(2), CrPC. The conundrum relating to the custody of the accused after the expiry of 60 days has also been dealt with by this Court in Bhikamchand Jain (supra). It was made clear that the accused remains in custody of the Magistrate till cognizance is taken by the relevant court. 

Case law:

Serious Fraud Investigation Office vs. Rahul Modi, 

Citation:

AIR 2022 SC 902