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TMI Blog2021 (8) TMI 304X X X X Extracts X X X X X X X X Extracts X X X X ..... nless guilt of the accused is proved, it has to be presumed that the accused is an innocent. This Court is inclined to grant regular bail to the petitioner herein on the conditions imposed - the petitioner - Accused shall execute a personal bond for ₹ 25,000/- with two (02) sureties for a like sum each to the satisfaction of the Special Judge for Economic Offences, Nampally, Hyderabad - application allowed. - CRL.P. NO: 6675 OF 2020 - - - Dated:- 17-12-2020 - HONOURABLE SRI JUSTICE K.LAKSHMAN Petitioner Advocate : T. Bala Mohan Reddy Respondent Advocate : P. Dharmesh ORDER The petitioner herein has filed the present Criminal petition seeking for grant of regular bail. He is the sole accused in F.No. INV/DGG ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... receipt of goods and supplied the said invoices and subsequently increased the Company s annual turnover to enhance his banking loan facilities. The petitioner has also issued GST invoices without supply of goods to various other parties and helped them to show them as their expenses in their accounts. iii) It is further alleged that he has procured GST invoices without supply / receipt of materials from the firms mentioned in the statements given by him on 29.10.2020 and 02.11.2020 through M/s. Advance Power infra Tech Limited, MIs. Radhika Electrocast Private Limited, Bahrat Gupta, Pratik Chaturvedi, Janki Lai Sureka and Siddarth Sharma at his request to his Company located in Hyderabad. Thus, issuance of GST invoices, e-way bills w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... delay in lodging the complaint since the alleged availment of ITC Credit by the said Company was from 01.07.2017 to 31.08.2020 and the complaint was lodged on 02.11.2020. According to the learned counsel for the petitioner, the said company was not sold. He has filed documents in proof of the same. 5. According to the learned counsel for the petitioner, investigation is almost completed and the petitioner is in jail from 02.11.2020 and, therefore, he sought to consider the bail application on certain conditions. 6. Respondent filed its counter along with certain documents. Mr. P. Dharmesh, learned Special Public Prosecutor for the respondent, would submit the petitioner being Managing Director of the said Company has committed serious ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngful availment or utilization of input tax credit rendered by him and his Company. The modus operandi adopted by the petitioner in commission of offence is also explained. According to the respondent, the plan and machinery of the said company was sold in 2016 itself, and according to the petitioner, the land was sold in August, 2019 and in proof of the same, he has filed copy of sale deed and letter dated 11.09.2019 of the Assistant Commissioner, Sales Tax. However, it is a matter to be investigated into by the Investigating Officer during the course of investigation. 9. The further allegation against the petitioner herein is that he has filed irregular inward ITC Credit of ₹ 5.46 Crores and outward irregular ITC Credit of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d reveal that there is no progress in the investigation from the date of filing of the counter in the first bail application till 12.12.2020 i.e., date of filing of second counter. Except saying that the respondent s authorities have issued several notices, there is no progress in the investigation. 12. Admittedly, the petitioner herein was arrested on 02.11.2020 and since then he is jail. As discussed above, the respondent s authorities have to collect evidence and record statements of witnesses. It appears from the counter in both the bail applications filed by the respondent s authorities that it will take considerable time to complete the investigation. It is settled principle of law that unless guilt of the accused is proved, it has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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