- (1.) The Apex Court baffled by the mounting numbers of economic offences and financial scams in a matter of grant of bail in the case of Nimmagadda Prasad vs Central Bureau of Investigation, 2013 7 SCC 466 Paragraph 23 observed as under:- "23) Unfortunately, in the last few years, the country has been seeing an alarming rise in white-collar crimes, which has affected the fibre of the country's economic structure. Incontrovertibly, economic offences have serious repercussions on the development of the country as a whole. In State of Gujarat vs. Mohanlal Jitamalji Porwal this Court, while considering a request of the prosecution for adducing additional evidence, inter alia, observed as under:(SC C p. 371 para 5). "5.....The entire Community is aggrieved if the economic offenders who ruin the economy of the State are not brought to book. A murder may be committed in the heat of moment upon passions being aroused. 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...."
(2.) The Constitutional mandate under Act 21 spells out a fundamental right that has been interpreted by the Supreme Court to include medical care of every person, followed by the Directive Principles of the State Policy that are engrafted in Act 39, 42 and 47 where the State is obliged to maintain health standards and improve public health. What happens if the standard bearers of public governance indulge in acts contrary to such mandate while discharging their public duties?
(3.) The country is facing a huge drop in matters of moral decline and financial bankruptcy, and the present case adds another dark leaf to the annals of such critical moments. To save the society, its rulers and the ruled, from any further ignominy is an urgent need and a constitutional obligation. The story unfolded in the present case reveals the squandering and alleged defalcation of several hundred Crores of public exchequer through dubious transactions with a network spread far and wide leading to several criminal acts, but with no less lapses that have been contributed by the judicial system, the glaring example whereof is the present proceeding.;