TMI Blog2019 (9) TMI 1268X X X X Extracts X X X X X X X X Extracts X X X X ..... king into account the fact that the petitioner is involved in a case involving fraud of ₹ 19.50 Crores and the alleged offence is an ecnomic offence which requires to be dealt with seriously and mere long custody would not be a ground for releasing him on bail. Similar matter was also before Hon ble Apex Court inY.S. JAGAN MOHAN REDDY VERSUS CENTRAL BUREAU OF INVESTIGATION [ 2013 (5) TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y respondent under the provisions of Section 68 of Central Goods and Services Tax Act, 2017 (for short, the Act ) before the Chief Judicial Magistrate, Ludhiana. 2. The allegations against present petitioner, Jatinder Manro are that he is part of fraud by virtue of which fake sale invoices worth ₹ 128 Crores were generated without supply of any material. The petitioner f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ein he had confessed that he fraudulently availed and utilized ₹ 19.50 Crores against fake invoices of ₹ 128 Crores approximiately. He remained present during the search operation on 3.7.2018 and his statement was recorded on the spot. 3. Learned senior counsel for the petitioner while arguing on the point of bail, contended that the petitioner has been falsely implic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he considered view that though the petitioner is in custody since 4.7.2018, but taking into account the fact that the petitioner is involved in a case involving fraud of ₹ 19.50 Crores and the alleged offence is an ecnomic offence which requires to be dealt with seriously and mere long custody would not be a ground for releasing him on bail. 6. Similar matter was before Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (5) TMI 896 - SUPREME COURT , wherein it was observed that bail should not be granted in such like cases of economic offences merely on the ground that the accused was in the jail for a period of one year. 8. Identical view as taken by Hon ble Apex Court in The State of Bihar Anr. Vs. Amit Kumar @ Bacha Rai, 2017(3) R.C.R. (Criminal) 690 = 2017 (4) TMI 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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