A division bench of Apex Court relying on Bhaskar Industries and Rameshwar Yadav, held as follows,

From Para 7,

7. In view of the above and for the reasons stated above and considering the facts and circumstances of the case, the present appeal is allowed. The impugned Judgment and order passed by the High Court as well as that of the learned Trial Court rejecting the application submitted by the appellant under Section 205 Cr.P.C. are hereby quashed and set aside and consequently the application submitted by the appellant to dispense with his appearance before the learned Trial Court on all dates of adjournments and permitting his counsel Sri Bharadwaj Reddy to appear on his behalf is here by allowed on the following conditions:
(1) That the appellant shall give an undertaking to the learned Trial Court that he would not dispute his identity in the case and that Sri Bharadwaj Reddy advocate who is permitted to represent the appellant, would appear before the learned Trial Court on his behalf on each and every date of hearing and that he shall not object recording of the evidence in his absence and that no adjournment shall be asked for on behalf of the appellant and/or his advocate Sri Bharadwaj Reddy;
(2) That the appellant shall appear before the learned Trial Court for the purpose of framing of the charges and also on other hearing dates whenever the learned Trial Curt insists for his appearance;
(3) If there is any failure on the part of the advocate Sri Bharadwaj Reddy, who is to represent the appellant, either to appear before the learned Trial Court on each adjournment and/or any adjournment is sought on behalf of the appellant and/or if the learned Trial Court is of the opinion that the appellant and/or his advocate is trying to delay the trial, in that case, it would be open for the learned Trial Court to exercise its powers under Section 205 (2) Cr.P.C. and direct the appearance of the appellant on each and every date of adjournment.

Puneet Dalmia Vs CBI Hyderabad on 16 December 2019

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Citations: [2019 SCC ONLINE SC 1622], [2019 INSC 1379]

Other Sources:

https://indiankanoon.org/doc/15759089/

https://www.casemine.com/judgement/in/5dfbc5f53321bc3818f97bd7

https://www.indianemployees.com/judgments/details/puneet-dalmia-versus-central-bureau-of-investigation-hyderabad

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Index is here.