TaxTMI 
TaxTMI 
2018 (4) TMI 1846
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....8 was dismissed by the Principal Special Judge for SPE & ACB Cases-cum-IV Additional Chief Judge, City Civil Court, Hyderabad on 28.03.2018. 5) It is an economic offence. With mans pursuit for materialistic pleasures increased, the economic offences started waxing. The height of the concern for the society in recent period unfortunately is that the law protectors, the guardians of public rights are being frequently involved in economic and white collar offences. This is one of such classic examples. 6) In every bail application including the offences involving economic frauds and white collar crimes, the Courts encounter a crucial issue of individual liberty guaranteed by the Constitution under Article 21 on one hand and societal interest to bring the culprit to book and see that the fair trial and impartial justice are rendered. These two aspects being distinct poles, Courts are required to strike a judicious balance between the two conflicting interests. That is where, we are now. 7) Bail law on economic and white collar offences is well delineated and no more res integra. Echoing the concern for economic offences, which are more dangerous and having far reaching impact on soc....
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....r the category of economic offences which stand on a graver footing. These crimes are professionally committed by white-collared people which inflict severe injuries on both health and wealth of the nation. Such offences need to be dealt with a heavy hand and releasing such accused on bail will affect the community at large and also jeopardize the economy of the country. The plea of parity is also not tenable in this case since the court did not consider, refer to and discuss the rigours of Section 45(1) of the PMLA. Petitioner has also failed to bring out any special circumstances for her release on bail being a woman or sick, keeping in mind the nature and gravity of offence, bail application is dismissed. 8) Thus the above rulings would emphasize the need to treat the economic offences as being class apart. In the matter of dealing with bail applications in such offences, certain parameters have been propagated by the precedential jurimetrics. i) In State of U.P through CBI v. Amarmani Tripathi , the Supreme Court pointed out the factors to be observed: Para 18: It is well settled that the matters to be considered in an application for bail are (i) whether there is any prima f....
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.... the Vigilance Cell of High Court granted permission to register a case in a post-haste manner without calling for an explanation from the Officer on his assets. c) Thirdly, it is argued that the ACB officials already searched his house and bank locker and seized the concerned records and nothing more is left for further search and seizure. Added to it, the other records relating to service particulars of the petitioner are available with the High Court, who is the employer of the petitioner and therefore, there is no question of petitioner either meddling with the investigation or tampering the records. d) Fourthly, learned counsel would submit that the AO is suffering with multiple health problems. He is already on pacemaker in the heart and he was recently recommended surgery for transplantation of liver besides he is having high blood pressure. Therefore, his continued incarceration in uncongenial and unhygienic atmosphere would aggravate his health problems. e) Above all, the marriage of the petitioners sonSameer is fixed to be performed on 06.05.2018. The AO being father, his presence is essential. On all the above submissions, learned Senior Counsel sought for bail. ....
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....he said aspect also requires a thorough investigation. In this regard, the IO has already addressed 16 letters to different authorities to secure authenticated information and replies are being awaited from the concerned. Since the investigation is in the crucial stage, if granted bail, the AO being a Judicial Officer and law knowing person will certainly use his legal skills to sabotage the investigation and thereby, the IO cannot be able to conduct a fair investigation to disinter the truth. c) Responding on the health problems of AO, the Spl.P.P. would submit that on the direction of Principal Special Judge for SPE and ACB Cases, Hyderabad, the AO was referred to NIMS wherein after conducting all tests on 25.03.2018 and holding that his condition was stable and normal, he was discharged from the said hospital. Any medical requirement occurs, the jail authorities can well attend to and therefore, on the medical ground he may not be enlarged. With regard to the proposed marriage of AOs son, learned Spl.P.P. would vehemently argue that in view of gravity of the offence and pending investigation, the request may not be considered as the petitioner may misuse his liberty to trample....
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....tionate assets comes to Rs. 1,28,24,881/- (Rs. 2,16,78,881/- minus Rs. 88,54,000/-). Thus, a careful scrutiny of the aforesaid figures would manifest that even if the contention of petitioner is accepted and some errors in the appraisal of the income, expenditure and assets are taken into consideration, still, AO possessing assets disproportionate to his income cannot be ruled out at this juncture. Of course, I must hasten that this is only a theoretical analysis to know about the existence or non-existence of prima facie case to consider the bail application. Ultimate truth has to be exhumed after investigation. Hence, there exists a strong prima facie case against AO which requires a thorough investigation. b) The contention of petitioner that the Registry of High Court has granted permission to register FIR in a post-haste manner does not hold water because, the letter dated 17.03.2018 of Director General, ACB to the Registrar General would show that upon securing permission, the ACB at first conducted discrete enquiry against AO and submitted a report and after satisfying with the prima facie material, the High Court accorded permission to register the FIR against AO. Hence i....
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....thdrawal of Rs. 41 lakhs from the bank account, his purchasing the car in the name of his mother-in-law and some other related transactions and if AO is at large, he will meddle with investigation. This Court finds force in the above submission. AO being Judicial Officer, there is a possibility of his finding out the ways to stifle the crucial evidence and scuttle the process of investigation with his legal acumen. Such a possibility cannot be obviated. The contention of AO that the entire investigation is completed with the searches conducted at various places and his service record is available with the High Court and hence, he cannot tamper with the evidence cannot be countenanced in view of the crucial part of investigation still left over. 15) The ill-health of the petitioner/AO is concerned, the bail order in Crl.M.P.No.215 of 2018 would show that on the direction of Principal Special Judge for SPE and ACB Cases, Hyderabad the AO was shifted to NIMS from Gandhi Hospital wherein after conducting all tests the authorities discharged him finding him fit. Therefore, the trial Court considering the discharge summary issued by NIMS, which revealed his fit condition, did not accede....