Economic offences bring imbalance in national economy

Vastavam web: Economic offences bring total imbalance in the national economy, a Delhi court has observed while refusing bail to two directors of a real estate firm alleged to have duped over 8,000 investors.Special Judge Kamini Lau also rapped the economic offence wing of Delhi Police for clubbing all complaints together in one FIR and said it was an attempt by it to dilute the allegations against the accused.The two have been charged with taking money from about 8,000 investors for eight projects, each worth between Rs 1,200-1,500 crore, which have not been completed or handed over.

“This is a fit case where separate FIR should have been registered by clubbing not more than three complaints in a particular year and not by clubbing all the complaints together in one FIR. There is an attempt on behalf of the investigating agency to dilute the allegations against the accused,” the court said.”In case what has been informed to this court that more than 8000 investors have been cheated in respect of investment to the tune of Rs 1,200 crore to Rs 1,500 crore per project, there being eight projects of which not even a single project has been completed or handed over, then it is a serious issue,” the court said while denying bail to the accused.

“The nation is greater than an individual. When such an individual is alleged to have been involved in a serious offence, which affects the society and the nation, release of such person on bail is not proper,” the court said.The victims’ counsel also alleged that one of the accused, Goel, was arrested on the basis of a lookout circular while trying to “abscond” to Bangkok.The court rejected the accused’s plea that they belonged to respectable families, saying it rather emphasises the seriousness of the malady.