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2023 (6) TMI 1340 - HC - Money LaunderingSeeking grant of Bail - Money Laundering - proceeds of crime - present applicant and the main accused Suryakant Tiwari were involved in illegal extortion from the coal transporters working in the Coal Mines within the State of Chhattisgarh - HELD THAT:- What is apparently evident is that the prosecution in the course of the investigation has collected substantial materials showing strong nexus between the applicant and the other accused persons in the said crime. From the documents produced in the Court during the course of hearing, there seems to be prima-facie materials collected establishing Money Laundering at the hands of the present applicant and the other accused persons. The prosecution has been able to show documents collected in the course of the search and seizure showing incriminating evidences in the form of handwritten diaries and digital devices, like mobile phones, laptops, etc. which would disclose numerous cash transactions and other illegal transactions operated by the main accused Suryakant Tiwari as per the dictates of the present applicant, who being a public servant used Suryakant Tiwari and Manish Upadhyay her a front men. Having perused the entire voluminous documents produced by either side, the magnitude of the amount involved in the so called scam or the economic offence is incomprehensible. Further, the number of persons involved in the commission of the offence directly or indirectly and many of them being part of the bureaucracy itself and the period of commission of the offence spanning considerable period of time makes the gravity of the offence graver. What is required to be seen is the gravity and magnitude of the offence - An economic offence is a rampant and pervasive social wrongdoing; each country on the planet is confronting this socio-economic challenge in one or the other form. It is the most consequential threat to a nation’s economy at large. It's nothing but another attempt to satisfy an individual’s greed over need. For the law enforcement agencies, it becomes a Herculean task to conduct interrogation and gather evidence since tampering of evidence is easy given the nexus of the accused parties with the system. 20. In such circumstances, the need of impartiality and fair play requires distinctive modus operandi to lift the veil off of economic offences. One way is to keep the accused parties in custody for longer period, so that there will be minimum hinderance and maximum efficiency in the investigation not just that of the applicant but also of all others who are involved in the offence. For that purpose, bail ought not be allowed in the same way as conceded in the event of regular offences. Taking into consideration the magnitude of the offence, this Court is not inclined to grant bail to the present applicant as of now - bail application rejected.
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