Supreme Court Slams Economic Offenders, Cancels Bail in Major Fraud Case

The Supreme Court has highlighted the seriousness of economic crimes, canceling anticipatory bail for those involved in a massive fraud case, emphasizing that such offenses pose threats to national financial health. It urged lower courts to handle non-bailable warrants sternly and stressed adherence to legal processes.

The Supreme Court underscored the gravity of economic offenses on Wednesday, emphasizing that these crimes, characterized by intricate conspiracies and major public fund losses, require a stern legal approach.

A bench of Justices Bela M Trivedi and P B Varale highlighted the irregularity of granting anticipatory bail to individuals persistently evading court proceedings in the significant Rs 9,000 crore Adarsh Credit Cooperative Society fraud case.

Raising concerns over the handling of such offenses, the bench recommended non-bailable warrants and meticulous legal processes, criticizing past orders that ignored mandatory conditions and were deemed legally unsustainable.

(With inputs from agencies.)