9911796707
TMI Blog2005 (5) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner has already spent 54 days in custody and the 60 days' period is shortly going to be over. He further submitted that the goods imported under the D.B.E.C. Scheme were in fact imported by Gudiya Fashions Private Limited of which the petitioner was acting as a commission agent. However, the case for the prosecution is that the goods were imported at the instance of the present petitioner and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of Rs. 6.40 crores has been evaded by this clever device. The learned Counsel for the petitioner, however, contends that even going by the story of the prosecution, the duty amount involved would be Rs. 3.40 crores. The learned Counsel for the petitioner submitted that in good faith and without prejudice to his rights and contentions, the petitioner had deposited a sum of Rs. 1.00 crore by two s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opposed the grant of bail. Firstly, he pointed out that it is the petitioner who was the master-mind behind this entire transaction whereby import licences were obtained on the basis of fraudulent statements and the goods ultimately imported on the basis of these licences were diverted in the local market rather than meeting the export obligation. He contended that by this method, the petitioner, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ever interrogation of petitioner had to be done has already been done. 5. In these facts and circumstances and in view of the submissions made by Counsel for the parties, I feel that further custody of the petitioner is not necessary as all the materials in the shape of documents, etc., have already been recovered from petitioner and no further interrogation would be necessary in this matter. Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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