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TMI Blog2021 (3) TMI 1027X X X X Extracts X X X X X X X X Extracts X X X X ..... nd refusal is the exception, etc., Though gravity of offence is an important factor and economic offences as in present case are considered grave, consideration for grant of bail would depend upon facts of each case and taking into consideration all the facts and circumstances, has enlarged P.Chidambaram, on bail, subject to certain conditions'. Granting of bail is a discretional relief and it is a well settled position of law that bail is the rule and jail is the exception. Though the respective learned counsels appearing for the parties has placed reliance upon the above said judgments, in the considered opinion of this Court, there cannot be any precedent in the matter of granting bail and the consideration to grant or refuse to gran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ange of circumstances. It is the further submission of the learned counsel appearing for the petitioners that the Economic Offences Wing of Tamil Nadu Police has registered a case in Cr.No.6 of 2016 on 02.06.2016, for the alleged commission of offences under Sections 406, 420, 120B of IPC read with Section 5 of the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997 (TNPID Act) and they were enlarged on bail in the event of arrest and nearly after two years and odd, the bail granted to them came to be cancelled and during their incarceration, the Committee of Administrator appointed by the Hon'ble First Bench of this Court had seized and got over almost all documents pertain to the properties and some ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ttention of this Court to the common counter affidavit and would submit that in pursuant to the order passed by this Court, the Enforcement Directorate came to be impleaded as a party in the pending Writ Petition and the investigation sofar revealed that various Companies were started, in which accused had primary role and indulged in collective instalment schemes and collected huge money from the customers on promise of lands or money with higher returns and thereafter defrauded them by diverting the funds for their own benefits. It is also brought to the knowledge of this Court by the learned Special Public Prosecutor that despite the petitioners were enlarged on Anticipatory bail in Cr.No.6 of 2016 on the file of the Economic Offence Win ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exception, etc., Though gravity of offence is an important factor and economic offences as in present case are considered grave, consideration for grant of bail would depend upon facts of each case and taking into consideration all the facts and circumstances, has enlarged P.Chidambaram, on bail, subject to certain conditions'. and in Y.S.Jagan Mohan Reddy's case (2013 3 SCC 439) [cited supra], it has been observed in paragraph no.15 that economic offences having deep rooted conspiracies and involving huge loss of public funds needs to be viewed seriously and considered as grave offences affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country and in paragraph no.16, it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted serious offence and the looting of money has also been done scientifically and as such they are not entitled to enlarge on bail, despite the fact that the respondent has filed the complaint on the file of the Court of Principal Sessions Judge, City Civil Court, Chennai. 11. It is also brought to the knowledge of this Court by the respondent in the counter affidavit that the documents collected would prima facie disclose that all the accused have committed acts of money laundering under Section 3 of the Prevention of Money Laundering Act and punishable under Section 4 of the said Act and the petitioners, during police custody also, did not cooperate with them and despite the complaint has been filed, further investigation is also in prog ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). The petitioner on execution of the said bonds, shall be enlarged on bail ; (3). The petitioners on their enlargement on bail, shall report before the respondent / Investigating Agency, at 11:00 am for a period of four weeks from the date of their enlargement on bail, and thereafter, shall report before the respondent, once in fortnight, until further orders ; (4). If the petitioners commit any breach of conditions or indulging in hampering of further investigation and tampering the witnesses, it is always open to the respondent / Investigating Agency to move this Court for cancellation of bail ; (5). On breach of any of the aforesaid conditions, the Principal City Civil and Sessions Judge, City Civil Court, Chennai / Trial Court is also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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