9911796707
TMI Blog2024 (9) TMI 1016X X X X Extracts X X X X X X X X Extracts X X X X ..... tors. Notably, one of the co-accused has already been granted bail by this Court. The applicant is ready to deposit Rs.22,00,000/- in the trial Court to show his bona fides. Prima facie, there is material to suggest that the applicant received the money through legitimate business transactions, as tax invoices were issued, and GST payments were made to the GST department. Furthermore, the transactions were conducted exclusively through the Bank. This Court is inclined to allow the present application - In the event of the applicant's arrest in CR No.811 of 2021, registered at Akluj Police Station, Solapur and investigated by EOW, Solapur, he shall be released on bail upon furnishing a PR Bond of Rs.25,000/- with one or two solvent suret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Economic Offences Wing (EOW), Solapur, he attended the EOW office and submitted a written explanation regarding the alleged transactions. The applicant was involved in the trade of medical equipment and Oxygen Concentrators, which were in high demand during the COVID period. The co-accused, Muniraj Naidu, initially rented and later purchased 28 Oxygen Concentrators from the applicant, using the name of co-accused Nitin Ughade. However, the applicant had no direct dealings with Nitin Ughade and only supplied the Oxygen Concentrators based on Muniraj Naidu's recommendation and instructions. The applicant's business transactions were conducted legally and exclusively through the Bank. 4. According to the learned Counsel, the EOW includ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e bail application, argued that the applicant had received an embezzled sum of Rs.22,00,000/-. The offence is of a serious nature, and the charge sheet has not yet been filed. Consequently, the bail application of the accused, Nitin Ughade, was denied by the Court. 7. This Court has given anxious consideration to the rival contentions and examined the record with reference to the applicable law. 8. It is not in dispute that the investigation is almost complete, and the documents related to the crime consist of bank records. Additionally, there is no dispute that the applicant was involved in the trade of medical equipment and oxygen concentrators. Notably, one of the co-accused has already been granted bail by this Court. The applicant is r ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
