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

Bail Denied in Major Economic Crime Case Involving Fraud, Money Laundering, and Fake Firm Registrations.

October 29, 2024

Case Laws     GST     HC

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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