Economic Offenses - The Legal Chamber

The Supreme Court upheld the denial of anticipatory bail, emphasizing that custodial interrogation is crucial in corruption cases involving influential accused. It clarified that confessional statements of co-accused under Section 161 CrPC cannot be considered at the bail stage, being inadmissible under Sections 25-26 of the Evidence Act. The Court reiterated that political vendetta allegations alone cannot justify anticipatory bail when prima facie evidence exists. It directed investigating agencies to avoid third-degree methods while preserving their right to seek custodial interrogation if warranted. The judgment reaffirmed the higher threshold for anticipatory bail compared to regular bail in serious economic offences. Facts Of The Case: The case arose from allegations of corruption ...

The Supreme Court held that the High Court exceeded its jurisdiction under Section 482 CrPC by directing the release of funds during an ongoing fraud investigation. Emphasizing that inherent powers cannot preempt trial court findings, the SC ruled that releasing disputed money would prejudice the investigation. The funds must remain withheld until trial concludes. Facts Of The Case: The case involves a dispute between NDA Securities Ltd. (Appellant) and State (NCT of Delhi) & Anr. (Respondents) over the release of ₹15.90 lakhs withheld by the Bombay Stock Exchange (BSE). The appellant, a securities trading firm, alleged fraud after receiving a phone call in 2013 from an impersonator posing as client Brij Mohan Gagrani, instructing the purchase of 1 lakh shares of Ashutosh Paper Mills...

Tag: Economic Offenses

Supreme Court Denies Anticipatory Bail in Andhra Liquor Scam Case