Economic offences involving large-scale fraud, money laundering, ...

Economic fraud & money laundering case involving crores from fake firms; charges proven, bail denied due to societal impact.

Case Laws     GST

October 29, 2024

Economic offences involving large-scale fraud, money laundering, and corruption are viewed seriously as they impact the economic fabric of society. Bail may be denied in such cases, especially if the accused holds a position of influence or power. This case involves a money trail of crores resulting from the registration of fake firms using Aadhaar and PAN cards, affecting society on a large scale. The discharge application of one accused was rejected, indicating the charges are proven. Once a chargesheet is submitted and discharge is rejected in an economic offence with a substantial money trail, the case for bail is not made out, and such accused cannot be dealt with leniently. The court must be cautious in exercising discretion u/s 438 of CrPC in economic offences with significant societal impact. Precedents alone cannot be the basis for granting or refusing bail; considerations must be case-specific, focusing on securing the accused's presence for trial. Based on the nature of the accusation, the applicants' roles, and the reasons given in judgments, this is not found to be a fit case for granting bail.

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