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‘Successive Commission Of Economic Offences Prejudicial To Maintenance Of Public Order’: Telangana HC Upholds Preventive Detention For White Collar Crimes

The Telangana High Court made significant remarks with respect to the menace of increasing white collar crimes in the country, the consequent fear among the general public and the calling need to deal with such offences with ‘iron hand’. “Unfortunately, in the last few years, the country has been witnessing an alarming rise in white-collar crimes, which has affected the very fibre of the country’s economic structure. Notwithstanding stringent legislations made to curb this evil, it has not been possible to eradicate the same. Therefore, any leniency in economic offence will send a wrong signal to the society at large. On the contrary, a message must reach to such offenders that there shall not be any leniency shown with respect to such activities/offences and the same shall be dealt with Iron hand,” a Division Bench of Justices A. Rajasheker Reddy and Dr. Justice Shameem Akther observed. The Bench further made it clear that economic offences, when committed in quick succession, are prejudicial to the maintenance of ‘public order’. This position is different from merely disturbing ‘law and order’ and therefore, an order of preventive detention may be passed against the alleged offender.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.