economic offences Archives

Rajasthan High Court dismisses plea to quash FIRs or consolidate investigation against Ex-MLA Pramod Jain Bhaya

“The law requires that for an allegation of malafide to be sustained, it must be pleaded with specificity and supported by material facts. In the absence of mens rea, or a demonstrable element of ill-intention, such a prayer cannot be entertained.”

Case Briefs Supreme Court

Cryptic orders while granting bail in money laundering cases without considering Section 45 PMLA mandate can’t be vindicated: SC

“Consideration of two conditions mentioned in Section 45 is mandatory, and while considering the bail application, the said rigours of Section 45 have to be reckoned by the court to uphold the objectives of the PMLA.”

Case Briefs Supreme Court

‘Economic offences stand on different footing, have wider ramifications’; SC upholds Bombay HC’s decision refusing to quash FIR under PC Act involving SBI employees

SBI suffered losses of Rs. 6.13 Crores approximately, causing a substantial injury to the public exchequer and consequently, hampering the public interest…“Economic offences affect the economy of the country as a whole and pose a serious threat to the financial health of the country. If such offences are viewed lightly, the confidence and trust of the public will be shaken.”

High Court Round Up Legal RoundUp

HIGH COURT NOVEMBER 2024 WEEKLY ROUNDUP | Stories on OCI; Ashneer Grover’s wife; Termination of Pregnancy; Maharashtra Elections; and more

A quick legal roundup to cover important stories from all High Courts this week.

Case Briefs Supreme Court

Strict conditions for bail must be imposed where investigation reveals active role of accused in economic offence affecting the masses: SC

In this case, the President of Jai Shriram Urban Credit Co-operative Society systematically siphoned off approximately Rs. 79 crores, with the aid of other office-bearers and the co-accused.

Case Briefs High Courts

Prior sanction for prosecuting a public servant can be taken even at the time of conclusion of trial; Gujarat HC rejects bail of retired IAS officer

“In the recent times, there was an increase in socio economic offences in the country. These are the offences which are solely committed for personal gains. These crimes are affecting every part of the country’s economic structure and wrecking the people’s faith in the system.”

Case Briefs High Courts

Purpose of FEO Act cannot be bypassed by taking recourse to CrPC; Bombay High Court refuses relief to Mehul Choksi

The purpose of Fugitive Economic Offenders Act is to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto.

Case Briefs Supreme Court

Economic offences under PMLA not to be treated lightly, Courts should tread meticulously before granting bail: Supreme Court

The Supreme Court stated that in the case of an economic offence which has a severe impact on the society, the Courts should be very slow in exercising the discretion under Section 438 of CrPC.

Case Briefs Supreme Court

Supreme Court grants bail to the accused for economic offences under PMLA on having served 50% of his sentence

The petitioner had contended that on account of his wife’s death, he was released on interim bail and had duly complied with all the conditions and had timely surrendered himself. The petitioner had also mentioned the fact that the two main accused in the case were enlarged on bail three years ago who were residents of Kanpur, Uttar Pradesh.