Can’t Grant Anticipatory Bail When Money Has Been Taken From Large Number Of People, Says Supreme Court During Hearing

The Supreme Court of India on Monday observed that it is not inclined in granting bails in cases pertaining to economic offences especially when many depositors have been swindled. "Suppose, you've taken away money from thousands of people, swindled. And you say, please grant him anticipatory bail, regardless of the plight of the victims. Maybe, families don't have money with them. They can't send their kids to school. They have to beg, borrow and steal from others. That's not acceptable”, Justices Sanjiv Khanna and MM Sundresh highlighted. The Bench was hearing a petition seeking anticipatory bail by one Samsul Alam Khan. “I had offered to deposit 9 lakhs in the lower court”, Senior Advocate R Basant appearing for the petitioner told the Court. He also relied on Satender Kumar Antil vs Central Bureau Of Investigation. “Will this be an economic offence or not?”, the Bench asked, after going through the judgement. It's an offence falling u/s 420 [Cheating] of the Indian Penal Code, Basant replied. “Taking money from depositors, will it be an economic offence under the RBI Act or the SEBI Act,?”, the Bench further questioned. Every offence where money is involved is not a financial offence, Basant replied. The Court expressed that it would grant bail only if the the “amount” is not high. “If the involvement is of a lesser sum, we are inclined to grant bail. If there are large number of people involved, then we are not inclined. We are very clear on it.” “We can go by the Chargesheet. It says 9 lakhs, how is the other side going to expand that?”, Basant argued. The Bench then directed the petitioner to deposit the amount with the Trial Court in two weeks while issuing notice in the matter. With this, the Court added that the petitioner be released on interim bail subject to him appearing before the Trial Court. "Till the next date of hearing, subject to the petitioner appearing before the Trial Court, he shall be released on interim bail on terms and conditions to be fixed by the Trial Court." The case will next come up on February 27. Case title: Samsul Alam Khan Amit Sharma Vs Union Of India | Slp(Crl) No. 12626/2022 Ii-A

Can’t Grant Anticipatory Bail When Money Has Been Taken From Large Number Of People, Says Supreme Court During Hearing

Rintu Mariam Biju

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