Justice Subramonium Refuses To Grant Bail To The Person Accused In A Fake Currency Case

KEY TAKEAWAYS

• Tabrez Ahmed v. State of NCT of Delhi with the coram of Hon'ble Mr. Justice Subramonium Prasad
• Delhi High Court denied bail to the accused of making and putting fake Indian currency in use.
• The police had informed that it was a Pakistani individual that was living in Dubai and smuggling fake Indian rupees.
• It was also found in the later stages that the accused was also involved in a more serious crime.
• The judge also informed about the wrong effects of the use of counterfeit currency on the Indian economy.

WHAT WAS THE CASE ABOUT

• The person who was charged with involvement in a syndicate that distributes and prints counterfeit Indian currency was denied bail by the High Court of Delhi.
• The Court denied bail to an alleged member of a trade organization that prints and distributes counterfeit Indian banknotes, saying it not only harmed the economy but also encouraged drug trafficking and funded unwanted terrorist groups.
• Judge Subramonium Prasad stated that the circulation of counterfeit banknotes was detrimental to the financial health of the nation and that counterfeit currency production had reached an unprecedented level of sophistication to the point that it became “indistinguishable” from real banknotes and became common practice.
• The Hon’ble judge stated that the circulation of counterfeit banknotes causes great damage to the economy and impedes financial regulation of the country and the production of counterfeit banknotes is often due to dissatisfaction with the development of the country.
• He said that it was aimed at disintegrating and destabilizing the liquidity balance in the economy Judge in his ruling of 23 August.

WHAT THE CASE PROCEEDED AS?

• Justice Subramonium added that Articles 489A, 489B, 489C, 489D, and 489E of the Indian Penal Code, dealing with counterfeit money offenses, were specifically incorporated by the legislature to protect the country's economy.
• The Court noted that in the present case the person suing the defendant was detained by the police on the basis of “confidential information” that a Pakistani national residing in Dubai had tried to smuggle counterfeit Indian banknotes into that country.
• Indian banknotes of Rs. 44,000 were discovered, and an additional agency for the collection, printing, circulation, and distribution of counterfeit Indian currency was registered.
• In rejecting the bail charge, the court found that the applicant was part of a very bad system/union that prints and distributes counterfeit banknotes and tended to have a damaging influence on the country's economy.
• The court stated that the applicant allegedly committed an awfully serious crime that injured the economy of the country.