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TMI Blog2022 (2) TMI 1411X X X X Extracts X X X X X X X X Extracts X X X X ..... on bail, he may influence the witnesses or abscond from justice cannot be ignored. At this stage, therefore, considering the gravity of the offence and the aforesaid circumstances, this Court is of the considered view that the petitioner is not entitled for the grant of regular bail. Finding no merit, the petition is hereby dismissed. - HON BLE MR. JUSTICE JASGURPREET SINGH PURI Mr. Vishal Aggarwal, Advocate for the petitioner. Mr. Rajesh Sethi, Senior Standing Counsel with Ms. Varinder Kaur Warraich, Advocate for the Respondent. JASGURPREET SINGH PURI, J. (Oral) CRM-5571--2022 CRM for placing on record correct and complete copy of impugned order Annexure P-4 is allowed as prayed for. Annexure P-4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tanding counsel for the respondent has submitted it is a case where the petitioner was actively involved in managing day-to-day business of 06 entities which were based on inadmissible Input Tax Credit to the tune of approximately Rs.128.82 crores and the petitioner was responsible for and on behalf of the said entities. He further submitted that initially intelligence was received in the office of the complainant which indicated 02 entities namely, M/s Nymphaea Trademart Private Limited, Delhi and M/s Nymphaea Apex Private Limited, Delhi are passing on inadmissible Input Tax Credit by way of fraudulent means on the strength of invoices generated by these entities registered in the name financially weaker sections of society and the present ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddress. The petitioner was instrumental in fraudulent passing on the said Input Tax Credit to different firms/companies by way of merely issuing invoices without actual supply of goods and thus, defrauded the Government exchequer and the petitioner was the main perpetrators in respect of these companies. Learned Senior Standing counsel further submitted that the petitioner along with Sh. Robin Gupta were main brains behind the fraud being committed upon the Government revenue and huge loss has been caused to the Government revenue. In this regard, he submitted that the material official witnesses are yet to be examined and the GIO is yet to be cross-examined and since the magnitude and gravity of the subject matter involved in the presen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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