9911796707
TMI Blog2020 (11) TMI 747X X X X Extracts X X X X X X X X Extracts X X X X ..... hat such transactions have caused loss to the tune of ₹ 13.08 Crores to the Government Exchequer. The contention of the applicant that there is nothing on record to show that he had received or obtained any kind of benefit from the aforesaid bogus firms is not sustainable at this stage because not only the investigation is pending but the investigating team has received documents/records showing cash entries in the name of the applicant. It is a matter of common understanding that no prudent person would derive any benefit directly from a bogus firm/entity as it would easily bring out his guilt. Such transactions are naturally done in a clandestine and discreet manner, and, therefore, discovering the direct/tangible evidence may no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations pertain purely to the documentary evidence. The maximum punishment liable to be granted for the offences under consideration is 5 years. The applicant has been allegedly roped in vicariously for the commission of offence by other persons, whereas there is no concept of vicarious liability under the Goods and Services Tax Act. 3. The Ld. Counsel for the applicant has further contended that the aforesaid Hanuman has been made an accused in an FIR No. 38 dated 6.01.2019 under Sections 420, 467, 468 471 of IPC, P.S. Chandni Bagh, Panipat for running a bogus firm. He submits that there is nothing on record to even suggest that the applicant had ever withdrawn any amount or taken any benefits from the alleged bogus firms namely M/s Ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tune of ₹ 13.08 Crores and, thereby causing a loss to the Government exchequer to the tune of ₹ 13.08 Crores. The offence being economic in nature affects the society at large and, therefore, no concession of bail be granted to the accused at this stage because not only the investigation in the matter is pending. It is also pertinent to point out that the above mentioned Hanuman has gone missing and in this regard the present applicant was called by the concerned police for the purpose of investigation on a number of occasions. With these submissions, the Ld. Counsel requests that granting of bail to the accused at this stage would seriously prejudice the investigation of the case. Therefore, the application in hand may kindly b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agency needs more time to dig out all the relevant record in the case. 9. It has been held by the Hon ble Superme Court of India in the case of Ram Narain Popli Vs. CBI (AIR 2003 SCC 3257) that: an economic offence is committed with cool calculation and desperate design with an eye on personal profit regardless of the consequences to the community . Similarly, upholding a stringent dealing with the economic offences, the Hon ble Supereme Court of India in the case of SFIO Vs. Nitin Johari another (Crl. Appeal no. 1381/2019 date of decision 12.09.2019) has made similar observation. 10. Reverting to the case in hand, the entire manner of commission of offence clearly points towards an economic offence squarely covered und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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