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TMI Blog2022 (6) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... ent and in the absence of any position action by issuing show cause notice hence no relevancy, since it is not a case of action without show cause notice nor withholding of present consignment for recovery of old demand of duty in respect of goods already assessed and exported - Similarly, in SANJAY CHANDRA VERSUS CBI [ 2011 (11) TMI 537 - SUPREME COURT] and GOVIND GOPAL GOYAL VERSUS STATE OF GUJARAT 1 [ 2017 (11) TMI 309 - GUJARAT HIGH COURT] , bail in these sorts of cases were dealt in terms of facts and circumstances of those cases and it is for the Courts to balance the Nations economic interest as against the individual personal liberty. Not in all cases, the period of incarceration alone matters, the stage of investigation, the ramification of the crime its network and the possibility of screening vital links, if the petitioners are let out on bail are the factors to be taken into consideration. In the instant case, the release of petitioners on bail is not conducive for investigation and therefore, petition for bail is dismissed. Considering the ramification of the offence and the design conceived by the petitioners herein to evade custom duty, without any interferenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed under the Shipping Bill No.7862422 dated 31.01.2022 declaring that the said cargo contain 22 Carat plain gold jewellery. The consignment was stopped by the Customs Officials for weight discrepancies and they were detained and deposited in the Airports Authority of India for safe custody. The detailed examination of the Shipping Bill no.7862422 dated 31.01.2022 resulted in the recovery and seizure of 450 numbers of bangles which were found not to be 22 carat jewellery but to be gold coated copper bangles. The gold covered copper bangles were attempted to be smuggled out of India by mis-declaring it as 22 Carat plain gold jewellery. As per this shipping bill, 10.8 kgs of jewellery valued at Rs.4,56,39,360/- was to be exported. However, on verification of the goods and the document, it was found gross misdeclaration in terms of value. Hence, the goods were seized. 4. Similarly, Shri.Sunil Parmar/A2 had procured duty free gold bullion and had attempted to fulfil his export obligation under the cover of above shipping bill. In the course of investigation, Shri Santosh Kothari, Proprietor of M/s.Shree Kalyan Jewellery was found involved in the diversion of the duty free gold bars o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner conduct their business with due compliance of the statutory obligation casted on it. For the purpose of making jewellery, the petitioner firm purchased Gold bullion from the Bankers who are the Nominated Agencies as per the RBI and Central Government Guidelines. The purchase of gold bullion from the bankers were properly accounted. Their only customers is the M/s.Kanak Gold and Diamond LLC having their Office and place of business at Royal Diamond Building, No.105, Deira Gold Souq, Dubai, UAE. Their customer used to place orders for jewellery over phone and make advance payment into the account of the petitioner's firm. On receipt of the advance, from the customer at Dubai, the petitioner used to purchase gold bullions from the Nominating Agency namely HDFC Bank. After receipt of the gold bullions, same will be sent by courier under proper documentation to the job workers at Rajkot and Calcutta. The entire transaction of purchase and despatch of the bullions are duly reflected in the books of accounts maintained by the petitioner's firm. 8. The gold bullions sent to job workers at Rajkot and Calcultta to manufacture the jewels as per the requirement of thei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of the allegations against them. In fact, apart from the informations given by the petitioners during the course of investigation, one of the manufacturer at Rajkot was examined and his statement was recorded and it corroborates the inculpatory statements of the petitioners. The manufacturer admits that on the prescription of the accused persons, he has manufactured copper bangles coated with gold and the said jewellery are not 22 carat jewels. The purchase bills of copper alloy for mixing with gold were seized from the manufacturer and he has admitted that, each bangle contains 47.79 grams copper stuffed in gold tubes. The presence of 22 carat gold in these bangles will be around only 9 to 10 grams and remaining i.e., 37 to 38 grams will be copper. Further, the accused persons are given details about the distribution of the excess gold remain after manufacturing fake gold bangles were used to be diverted in the domestic market. Thus, the duty free bullion procured through Nominating Agency are not exported on conversions as jewels and they were substantially diverted to local market. The sale proceeds were clandestinely sent to Dubai, who in turn transferred the money throu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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