Summary: Bail is the rule, jail is the exception, is an axiom. A tight rope between individual liberty and public interest, bail jurisprudence in India has evolved to err on the side of liberty. However, heinous offences are a slight exception to this rule and bail is often denied in such matters, considering the nature of the offence and larger societal interest.  The Hon’ble Supreme Court’s judgment in Rakesh Mittal v Ajay Pal Gupta and Anr., marks an interesting development in this exception to ordinary bail jurisprudence. Applying precedents dealing with bail in heinous offence matters, the Court held that the same principles would also apply to grave pecuniary offences, especially when committed by habitual offenders. Accordingly, overturning an order of bail granted by the Hon’ble Allahabad High Court on the ground of parity with other accused, the Court also considered factors such as criminal antecedents of the accused, including a long history of fraud, absconding, and misuse of bail in other matters. Whether this is a unique exception or signals a change in jurisprudence remains to be seen.