9911796707
TMI Blog2022 (8) TMI 149X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. The applicant herein to show his bonafide, willing to deposit Rs.2 crore, which is approximately 10% of the alleged amount. Considering the facts and circumstances of the present case, it is worthwhile to note the observation made by the Apex Court in the case of Sanjay Chandra Vs. CBI, [ 2011 (11) TMI 537 - SUPREME COURT ], wherein, it was observed that constitutionally protected liberty must be respected unless the detention becomes necessary. The balance approach is to grant bail subject to certain conditions rather than to keep the individual under detention for an indefinite period. Considering the facts and circumstances of the present case and role attributable to present applicant herein as well as his bonafide to dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company were conducted at their registered places of business. Both the firms are proprietorship concern, doing scarp business at Bhavnagar and are registered in the name of Kalawala Haji and Mrs. Sabana Aslam, who are father and mother of the applicant respectively and according to record, the applicant is the authorized representative of both the firms and managing its bank transactions. During the search proceedings, both the firms were not operative and not in existence at the business place and one new firm M/s. Ashiya Enterprise was found. The findings of the investigation, emerged that these firms doing wrongful activity of issuing fake invoices, to pass ineligible input tax credit to beneficiaries without any actual movement of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... artment and necessary documents have been recovered. It is in this context, learned counsel submitted that now further custody of the applicant is not necessary, as after investigation, complaint is filed before the court concerned and in near future, there is no possibility to conclude trial in a reasonable time so keeping behind the bar the applicant, would not serve any purpose. (ii) Learned counsel on instructions, states that the applicant is ready and willing to deposit Rs. 2 crore within 2 months from his release before the department without prejudice to his rights and contentions; (iii) On factual aspect, learned senior counsel submitted that both the firms had filed regular returns for its business transactions and till ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tigation is virtually over. The applicant being an authorized attorney of 2 firms, initially he had evaded the investigation but later on after his arrest and during his remand period, he was interrogated extensively and necessary materials have been recovered. Department has also filed complaint against the applicant. The applicant herein to show his bonafide, willing to deposit Rs.2 crore, which is approximately 10% of the alleged amount. Considering the facts and circumstances of the present case, it is worthwhile to note the observation made by the Apex Court in the case of Sanjay Chandra Vs. CBI, reported in 2012 2 SCC 40 , wherein, it was observed that constitutionally protected liberty must be respected unless the detention be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d) not leave India without prior permission of the Sessions Judge concerned; (e) furnish latest address of residence to the Investigating Officer and also to the Court at the time of execution of the bond and shall not change the residence without prior permission of the trial Court; (f) Shall deposit Rs.2 crores within 2 months from his release before the office as referred above. The applicant shall deposit the amount in two installments i.e. Rs.1 crore within 1 month from his release and remaining amount be paid on the second month. If applicant fails to deposit the amount within stipulated time period, the bail stands automatically ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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