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2020 (5) TMI 334 - HC - GSTBail application - bogus firms/companies for fraudulently receiving huge amount as GST refunds - HELD THAT - It is deemed just and proper to grant bail to the accused petitioner under Section 439 Cr.P.C. - bail application allowed.
Issues: Bail application under Section 439 of Cr.P.C. for offences under Sections 420, 406, 467, 468, and 471 IPC.
In this judgment, the petitioner filed a bail application under Section 439 of the Cr.P.C. in connection with a case involving offences under Sections 420, 406, 467, 468, and 471 IPC. The petitioner had been in custody since 30.10.2019 for offences triable by a Magistrate. The petitioner had previously been granted bail in another case with similar allegations. The Public Prosecutor and counsel for the complainant opposed the bail application. The GST Department's counsel stated that the petitioner had committed a fraud of ?17 crores through bogus transactions, with only around ?1 crore recovered so far. The petitioner was accused of being the mastermind behind the fraudulent activities, creating fake firms to claim GST refunds for non-existent transactions. The money obtained fraudulently was allegedly transferred to relatives' bank accounts, and investigations were ongoing. Concerns were raised that granting bail could lead to witness tampering and hinder money recovery efforts. The petitioner's counsel proposed conditions for bail, including restrictions on property transactions, surrendering the passport, disclosing bank account details, and limiting monthly withdrawals. The police had already completed the investigation and filed a charge-sheet against the petitioner for offences triable by a Magistrate. Considering the circumstances and undertakings offered by the petitioner, the court deemed it appropriate to grant bail under Section 439 Cr.P.C. The bail application was allowed, requiring the petitioner to furnish a personal bond and sureties. The petitioner was directed to provide undertakings within two weeks, including those from family members. Breach of any conditions could lead to bail cancellation. The petitioner was instructed to attend all court hearings and inform relevant authorities about the bail order due to being a member of the Institute of Chartered Accountants.
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