The petitioner, V. Mohan Babu (A7), sought bail from the Madras High Court after being arrested on 07.01.2026 and remanded to judicial custody in connection with an alleged large-scale financial fraud involving M/s. International Financial Services (IFS) Ltd., where over 84,000 depositors were allegedly cheated of more than Rs. 13,000 Crores. The petitioner argued innocence, parity with co-accused A9 who had been granted bail, voluntary return from abroad, and infringement of personal liberty due to prolonged custody without trial progress. The court rejected the parity argument, noting that unlike A9, as many as 2,834 complainants specifically alleged personal inducement by the petitioner amounting to over Rs. 410 Crores, and that bail of another co-accused had been cancelled for witness tampering. Relying on the Supreme Court's rulings in Y.S. Jagan Mohan Reddy v. CBI (2013) 7 SCC 439 and Rakesh Mittal v. Ajay Pal Gupta (2026 SCC OnLine SC 211), the court held that economic offences of extraordinary magnitude require a different approach and that the rights of thousands of innocent depositors cannot be overlooked. The bail petition was dismissed.