TMI Blog2019 (4) TMI 1569X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the petitioners and as the said aspect has already been covered by this Court, the petitioners herein are also entitled to be released on anticipatory bail - petitioners herein are granted anticipatory bail - petition allowed. - CRIMINAL PETITION NO.2484/2019 c/w. CRIMINAL PETITION NO.2485/2019 - - - Dated:- 15-4-2019 - MR. B.A. PATIL J. Petitioner (By Sri Ravi B. Naik Senior Counsel for Sri Harish V.S., Advocate) Respondents (By Sri Nitin Ramesh, Addl. AG for R1 to R4; Sri Jeevan J Neeralgi Standing Counsel for R5) O R D E R Criminal Petition No.2484/2019 is filed by Mr. Mahendra Kumar Singhi and Criminal Petition No.2485/2019 is filed by Mrs. Suman Mahendra Kumar Singhi, wife of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e financial year 2017-18 and 2018-19 is ₹ 2,34,29,84,3870 and the said fact reveals that ₹ 195.78 Crores out of the total supply of ₹ 234.29 Crores during the year 2017-18 and 2018-19 is made only from the registered taxable persons involved in circular trading and thereby petitioners-accused have played fraud in circular bill trading. On the basis of the complaint, proceedings have been initiated. 4. It is the submission of the learned Senior Counsel Sri Ravi B. Naik that as per the provisions of Goods and Services Tax Act, 2017 ( GST Act for short), the maximum punishment which is liable to be imposed, even if an offence has been committed is five years. He further submitted that as per Section 138 of the GST A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. He further submitted that on creating such documents, they may raise huge loan from the banks by playing fraud. He further submitted that the petitioners have already raised loan of ₹ 160 Crores from the bank. By referring to the statement of objections filed, he further submitted that if the entire records are looked into the fraud played is in Crores of rupees. He further submitted that it is a big scam and if it is allowed to be continued, then it will be having its own cumulative effect on the economy and financial aspect of the State. By referring to the decision in the case of Y.S.Jagan Mohan Reddy Vs. Central Bureau of Investigation, reported in 2013(7)SCC 439 , he further submitted that in the case of economic o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions. 6. Learned Standing Counsel appearing on behalf of the 5th respondent by supporting the arguments of the learned Additional Advocate General has also prayed to dismiss the petitions. 7. I have carefully and cautiously gone through the submissions made by the learned counsel for the parties and perused the records, so also the decision quoted by the learned Additional Advocate General. 8. Though several contentions have been raised with reference to initiation of the action under the GST Act and CST Act, since the scope of these petitions is limited only to consider the bail applications, the other points which have been raised are not dealt with in detail to dispose of these petitions. This Court while consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore the Investigating Agency as and when they are ordered to do so. If they do not co-operate with the investigation, the respondents are at liberty to move the Court for cancellation of bail. vi) They shall not indulge in similar type of criminal activities covered under the said GST Act and Central Goods and Services Tax Act till the trial is concluded. vii) They shall not leave the jurisdiction of the Court without prior permission. viii) They shall not leave the country. ix) They shall surrender their original passports before the jurisdictional Court. x) They shall mark their attendance before the authorised officer on 1st of every month till the trial is concluded. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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