Economic offenses involving large-scale fraud, money laundering, ...

Businessman denied bail for operating fake firms, crores through illegal fund transfers.

Case Laws GST

October 29, 2024

Economic offenses involving large-scale fraud, money laundering, and corruption are viewed seriously as they affect the economic fabric of society. The present case relates to registration of fake GST firms using the informant's PAN and Aadhaar cards without consent, resulting in illegal profits through fund transfers to other accounts, creating a money trail of crores. The applicant's involvement in these transactions with fake firms is evident. Though released on bail in the CGST Act case, the present IPC offense is distinct, not amounting to double jeopardy. Economic offenses warrant denying bail, especially when the accused holds influence. The chargesheet submission and rejection of co-accused's discharge application indicate sufficient evidence. Bail considerations are case-specific, focusing on securing the accused's presence for trial. Given the large-scale economic impact, bail is denied to the applicant.

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Economic offenses involving large-scale fraud, money laundering, ...

Businessman denied bail for operating fake firms, crores through illegal fund transfers.

Case Laws GST

October 29, 2024

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