9911796707
TMI Blog2021 (1) TMI 215X X X X Extracts X X X X X X X X Extracts X X X X ..... of goods. During the course of investigation, it was revealed that input tax credit of approximately ₹ 7 crores has been fraudulently availed/passed by M/s Sri Siddhivinayak Ventures. Considering the seriousness of allegations, enormity of charge and the fact that investigation is at crucial stage, the applicant/accused cannot be released on bail - bail application dismissed. - Bail Matters/2128/2020 - - - Dated:- 31-12-2020 - DHARMENDER RANA ROSTER JUDGE Present: Sh. Harpreet Singh, Ld. Spl. PP for department through VC. Sh. Vineet Kumar Singh, Ld. counsel for applicant/accused through VC. Present is an application moved on behalf of applicant/accused seeking grant of bail. It is submitted that applicant/accused ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as fraudulently availed/passed input tax credit of approximately ₹ 7 crores to Government exchequer. Hence, he does not deserve to be released on bail. I have heard and considered the rival submissions made by both the parties and also gone through the material available on record. It has been observed by the Hon ble Apex Court in State of Gujarat v. Mohan Lal Jitamalji Porwal Ors (1987) 2 SCC 364 as under : ..The entire Community is aggrieved if the economic offenders who ruin the economy of the State are not brought to books. A murder may be committed in the heat of moment upon passions being aroused. An economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il cannot be granted as a matter of routine. Applicant/accused is Masters in Business Administration. He is reported to be the sole proprietor of M/s Sri Siddhivinayak Ventures and reportedly raised taxable invoices to the tune of ₹ 150 crores without any movement of goods. During the course of investigation, it was revealed that input tax credit of approximately ₹ 7 crores has been fraudulently availed/passed by M/s Sri Siddhivinayak Ventures. Considering the seriousness of allegations, enormity of charge and the fact that investigation is at crucial stage, I am not inclined to release the applicant/accused on bail. The application is bereft of any merits and the same is accordingly dismissed. Application is disposed o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
