Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be discontinued on 31-07-2025
If you encounter any issues or problems while using the new portal,
please
let us know via our feedback form
so we can address them promptly.
Home
2019 (10) TMI 175 - HC - FEMASh. P. Chidambaram seeks bail - proposal for downstream investment - Petitioner the then Finance Minister Sh. P. Chidambaram approved the downstream proposal of INX News on 30.10.2008 - FIR alleging commission against Sh. Karti P. Chidambaram arraigned as accused No. 3 in the said FIR under Section 120-B read with Section 420 of Indian Penal Code 1860 Section 8 of the Prevention of Corruption Act 1988 (hereinafter referred to PC Act ) and Section 13(2) read with Section 13(1)(d) of the PC Act. HELD THAT - As petitioner instead of joining the investigation approached this Court seeking anticipatory bail and this Court was pleased to pass an interim order protecting the petitioner from arrest. Pursuant thereto when the petitioner was called for interrogation under the protective umbrella of a pre-arrest bail reducing the said interrogation into a mere ritual and farce therefore the investigation agency contested the said anticipatory bail application and same was considered by this Court . It cannot be disputed that if case is proved against the petitioner the offence is on the society economy financial stability and integrity of the country. The economic offences constitute a class apart and a class by itself as it cuts the very root of probity and purity of public administration and results in eroding the public confidence which it reposes on the Government elected by it. It is fact that the entire Community is aggrieved if the economic offenders who ruin the economy of the State are not brought to book as such offences affects the very fabric of democratic governance and probity in public life. A murder may be committed in the heat of moment upon passing being aroused. However an economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the Community. A disregard for the interest of the community can be manifested only at the cost of forfeiting the trust and faith of the community in the system to administer justice in an even handed manner without fear of criticism from the quarters which view white collar crimes with a permissive eye unmindful of the damage done to the national economy and national interest . as observed by the Hon ble Supreme Court in the State of Gujarat vs. Mohanlal Jitamalji Porwal 1987 (3) TMI 111 - SUPREME COURT Thus order of remand for judicial custody of the Trial Court is justified. As argued by learned Solicitor General (which is part of Sealed Cover two material witnesses (accused) have been approached for not to disclose any information regarding the petitioner and his son (co-accused). This Court cannot dispute the fact that petitioner has been a strong Finance Minister and Home Minister and presently Member of Indian Parliament. He is respectable member of the Bar Association of Supreme Court of India. He has long standing in BAR as a Senior Advocate. He has deep root in the Indian Society and may be some connection in abroad. But the fact that he will not influence the witnesses directly or indirectly cannot be ruled out in view of above facts. Moreover the investigation is at advance stage therefore this Court is not inclined to grant bail.
|