The Supreme Court on Monday while dismissing the bail plea of an accused said that economic offences have serious repercussions on the development of the country as a whole.
With the advancement of technology and artificial intelligence, economic offences such as money laundering have become a real threat to the functioning of the financial system of the country, a bench of Justices Aniruddha Bose and Bela M. Trivedi observed.
The bench further said that “the economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously and considered as grave offences affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country,” the bench added.
The top court said when the detention of the accused is continued by the court, the courts are also expected to conclude the trials within a reasonable time, further ensuring the right of speedy trial guaranteed by Article 21 of the Constitution.
The apex court said the accused, Tarun Kumar, has to prima facie prove that he is not guilty of the alleged offence and is not likely to commit any offence while on bail.
The Supreme Court was hearing a bail plea of an employee of Shakti Bhog Foods Limited in a money laundering case.
