Bail Denied Due to Involvement in Fake Firms and Tax Evasion; Court Stresses Severity of Economic Crimes and Public Harm.

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....Seeking grant of bail - creation and operation of 294 fake firms and has evaded a tax - The court noted the serious nature of economic offences and the substantial loss to the public exchequer. It emphasized the need for a different approach in bail matters concerning economic crimes. - The court considered the rejection of bail for a co-accused in a similar case and upheld the decision, highlighting the substantial loss caused by the petitioner's actions. - Considering the evidence and seriousness of the offence, the court denied bail to the petitioner and instructed the trial court to expedite proceedings.....