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TMI Blog2019 (4) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... er the fixed deposit for payment of legally adjudicated demand with the department towards payment of duty. Meaning thereby the petitioner has been directed to keep an amount of ₹ 3 crores in fixed deposit in his name and to furnish copy of the FDR to the department. It clearly shows that the condition has been imposed to have the FD of said amount in the name of the petitioner. It is settled law that economic offence constitute a class apart and such like offence having deep rooted conspiracy by causing huge loss of public funds affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country. At the time of granting bail, the Court has to consider and keep in mind the nature ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r that amount for payment of legally adjudicated demand with the department towards payment of duty and furnishing copy of FDR of ₹ 3 crores to the department as well as trial Court within a period of 15 days. The petitioner/accused filed petition for anticipatory bail in complaint case under Section 132 and 135 of the Customs Act, 1962, registered at Police Station DRI. As per allegations in the complaint, the petitioner was one of the Directors of M/s Modern Insecticides Ltd., Ludhiana and his premises was raided on 31.05.2018 and 01.06.2018. Some samples were drawn from the premises of the Company. Petitioner was travelling to Dubai along with his father and he had to come back immediately to India and joined the search operat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sure compliance, he would keep an amount of ₹ 3 crores in a fixed deposit in some bank and should undertake to surrender that fixed deposit for payment of the legally adjudicated demand with the department towards payment of duty and he would furnish a copy of the FDR to the department as well as in the trial court within a period of 15 days from the date of passing of the order. Learned counsel for the petitioner submits that learned Additional Sessions Judge, Ludhiana has allowed the bail subject to the condition to keep an amount of ₹ 3 crores in a fixed deposit in some bank with an undertaking to surrender the fixed deposit for payment of legally adjudicated demand. Learned counsel also submits that the petitioner joined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an amount of ₹ 3 crores in fixed deposit in his name and to furnish copy of the FDR to the department. It clearly shows that the condition has been imposed to have the FD of said amount in the name of the petitioner. In the present case the show cause notice was issued to the petitioner as he was found to be evading central excise duty by violating notification dated 14.11.2002 and duty of ₹ 1,34,55,737/- plus interest of ₹ 60,07,060/- plus penalty of ₹ 3 lacs, which was paid by him after he was booked in the case. As per allegations, the petitioner has evaded the duty and has caused great loss to the public exchequer. The offence is grave/serious in nature. While granting bail, it is to be seen by the Court as to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earance on two different dates but he failed to join investigation. As per input, export remittances amounting to ₹ 19 crores is still pending against him. In his statement dated 12.07.2018, the petitioner has assured to provide the full details of outstanding export remittances within a period of one week but he failed to provide the same. As per notification dated 12.01.2016 (amended upto June 23, 2017), the amount representing the full export value of goods/software/services exported shall be realised within a period of nine months from the date of export. The petitioner has not cooperated in the investigation and just to ensure his availability during ongoing investigation, such condition was imposed. Moreover, the petitioner h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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