Interim bail in grave economic offence allegations refused despite COVID-19 health plea and ongoing fraud investigation.

Interim bail was refused where the applicants faced grave economic offence allegations under the Companies Act, the Serious Fraud Investigation Office investigation was still pending, and there was a risk of tampering with evidence. The Court considered the COVID-19 health plea, but held that the applicants did not fall within the category of prisoners covered by decongestion measures. The seriousness of the alleged fraud and the ongoing investigation outweighed the asserted health concerns, so the request for interim bail was rejected.

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Issues: Whether the applicants were entitled to interim bail on the ground of COVID-19 related health risks notwithstanding the seriousness of the alleged offences and the pendency of investigation.

Analysis: The prayer for interim bail was examined against the nature and gravity of the alleged fraud, the continuing investigation by the Serious Fraud Investigation Office, and the likelihood of tampering with evidence. The Court noted that the relief sought was only interim bail, that the offences alleged under the Companies Act were grave economic offences involving very large sums, and that the investigation had not concluded. The Court also considered the COVID-19 based plea, but held that the applicants did not fall within the category of prisoners contemplated for decongestion measures and that the seriousness of the accusations outweighed the claimed health concerns.

Conclusion: Interim bail was refused and the application was rejected.

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