TMI Blog2021 (9) TMI 551X X X X Extracts X X X X X X X X Extracts X X X X ..... ecember 2019. He is working with Jaipur Golden Transport as Deputy General Manager. M/s.EXL India Pvt Ltd is sister company of Jaipur Transport. He referred to contract executed with M/s.Rashi Peripherals Pvt.Ltd in 2012. Subsequently contracts were renewed. Vinit Gupta used to follow up with him regarding transportation. M/s.Rashi Peripherals Pvt Ltd had filed Civil Suit at Thane. The accused had deposited cash during the period of offence and transferred funds in the name of his relatives and companies. Thus, the facts are already investigated and further custody of the applicant is not necessary. The offences are triable by Magistrate. The applicant is directed to be released on bail investigated by Economic offences Wing on executing P.R.Bond in the sum of ₹ 50,000/- with one or more sureties in the like amount - bail application allowed. - BAIL APPLICATION NO.1202 OF 2020 WITH INTERIM APPLICATION NO.286 OF 2021 - - - Dated:- 8-4-2021 - PRAKASH D. NAIK, J. Ms. Mansha Khemka with Ms. Bhagyashree Upadhyay, Ms. Twinkle Khemka i/by Khemka Ascociates for applicant. Mr. Sushil Upadhyay with Mr. A.M. Saraogi for intervenor. Mr. S.S. Pednekar, APP, for Stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s also required to scrutinize whether the amount towards invoices tallies with the goods delivered. In September2018 one of the Director of the complainant company noticed increase in the transport expenditure and noted that scrutiny has to be carried out in that regard. The company verified the transportation expenses and it was noticed that there is considerable difference in total transportation cost and total transportation cost debited to respective branches of complainant. Vinit Gupta was called upon to give explanation. Thereafter his attendance was irregular. Subsequently he left the job. It was noticed that there were discrepancies in the expenditure and hence invoices were verified. It was found that invoices submitted by transport companies viz M/s.EXL India Pvt.Ltd. and M/s.DNX Cargo India Limited were missing from file. Further enquiry was conducted and it was found that lorry receipts submitted with invoices were missing. On demand with the transport companies, M/s.DNX Cargo India Limited submitted some documents. M/s.EXL India Pvt.Ltd. did not co-operate with the enquiry. From the documents submitted by M/s.DNX Cargo India Ltd, it was revealed that employee of the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic Manager Yogesh Tiwari. Copy of order is forwarded to head office. Godown officer prepares bill. Person from transport agency prepares lorry chalan and provides details and signs the chalan. The information forwarded to account executive Vinit Gupta and Archana Pandey. Receipt of bill is sent to head office. Transport agency submit monthly lorry chalan (docket), bill invoices to head office. It is sent to Vinit Gupta for verification. He is supposed to verify and scrutinize documents and check its genuineness. Bills are then sent to Sales Manager Mukesh Rohila. He signs them and bills are sent to account department. SRC Express Cargo is transport agency. The owner of the said agency is Narayan Nigam and Rajesh Nigam. It was noticed that the value of transport had exceeded than sales. Discrepancies were noticed. Chalan submitted by SRC Express was false. Vinit Gupta and owners of SRC Express had acted in connivance and caused loss of ₹ 3,12,18,456/- to complainant and misappropriated the said amount. 6. Vinit Gupta preferred application for bail before the Court Additional Chief Metropolitan Magistrate, Esplanade, Mumbai in connection with CR No.454 of 2019 (CR No.71/2019 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected by both the Courts below; (h) The entire case is based on assumptions. It is assumed that cheques deposited and cash deposited into the accounts of applicant or his family account, is sourced from the complainant company. This assumption is without merit. There is nothing on record to indicate that the cash deposits were originated from the transport companies or the complainant. Not a single cheque is obtained to show that the funds were transferred to applicant s account. The applicant was working as Yarn Commission Agent with company, such as, Filatex, Alliance and others. The annual commission turn over runs in crores of rupees. It is not irregular for the applicant to acquire funds as reflected in his bank account and that of his dependents. The applicant s enterprise, investment, interest earnings, inheritance are very genuine source of income; (i) The investigative agency omitted to determine the source of income of applicant; (j) The applicant has been paying average ₹ 1 lakh as his income tax in his yearly filings even before 2012. The investigative agency failed to obtain income tax records and financial records prior to 2012, which would reflec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had preferred anticipatory bail application in CR No.591 of 2018 before the Sessions Court viz ABA No.761 of 2020 which was pending; (p) The investigative agency had ample opportunity to interrogate the applicant. They have procured records. There is no transaction in account of Kiran Gupta since 2015 after she died. The interest accrued is disclosed in the tax filings of the applicant. The account of father of applicant was HUF account and the applicant being coparcener having no objection from heirs, was entitled to handle the account of HUF; (q) Bail need not be denied to the applicant under apprehension that he would tamper with evidence. There is no evidence on record to justify apprehension; (r) M/s.DNX Cargo India Pvt.Ltd and M/s.EXL India Pvt.Ltd as companies are at the centre stage of the allegations by Rashi Peripherals Pvt.Ltd.. However, it s Directors/Managers or other responsible individuals are not even named in the charge sheet. They are not arrested or investigated. Although there are clear allegations that the payments went into their accounts based on allegedly forged invoices issued by them, no records or seizure has even been conducted in this re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bail granted to Vinit Gupta by Lower Court. The applicant is not entitled to bail on the ground that his son Vinit Gupta is released on bail. The said orders deserves to be set aside as in spite of evidence against Vinit Gupta, bail was granted to him. It is submitted that the second FIR was registered on the basis of different transactions. There is no legal bar for registering such FIR. The applicant is not entitled for bail. A perusal of the charge sheet would show that though initially fraud was committed by son of applicant, connivance of the applicant is writ large. Crores of rupees have gone into the account of applicant and relatives which were operated by the applicant. Both the FIRs are relating to different causes of action. The second FIR is valid in law. Reliance is placed on this same decision referred to by learned counsel for applicant. Hence, application for bail may be rejected. 10. The applicant is arrested on 23rd December 2019. He is in custody for a period of fourteen months. The son of applicant Vinit Gupta has been granted bail by the Court of Magistrate in both cases. Those orders are under challenge before this Court at the instance of original complai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gistered in respect to same transactions. Reliance is placed on the decision of Supreme Court in case of Anju Chaudhary Vs. State of Uttar Pradesh and others (supra). This Court is not dealing with the issue relating to quashing the proceedings on account of maintainability of second FIR, but the fact remains that Vinit Gupta has been impleaded as accused being employee of complainant company and having misappropriated huge funds in connivance with transport companies. In the first FIR and the second FIR, the difference is of transport companies with whom the co-accused Vinit Gupta had allegedly conspired and connived in misappropriation of the funds. Vinit Gupta was arrested in first FIR and granted bail. He was again arrested in second FIR and granted bail. Genesis of both FIRs is same. The applicant had contended that complainant had amicably settled their dispute with SRC Express. The allegations in the said FIR is that Vinit Gupta had conspired with said transporters. Ultimately the complainant had resolved their dispute with M/s.SRC Express. That may be the reason for not proceeding with the investigation in respect of said FIR. Apparently the co-accused in CR No.591 of 2018 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l vide order dated 17th May 2018 in CR No.591 of 2018 (CR No.3/1019). While granting bail it was observed by learned Magistrate that in the present case other accused who had played major role in the offence have settled the matter with the informant and are released on bail. The accused is an employee and was probably acting on the orders of his superiors. The trial may take some time to achieve finality. No purpose will be served by keeping the accused incarcerated indefinitely. However, the bail application preferred by the applicant was rejected by the Courts below. Investigation is being conducted into the accounts of applicant and his family members. 13. Voluminous documents are recovered during the investigation. Charge sheet has been filed against applicant. Search was conducted at the residential premises of Vinit Gupta on 26th December 2019. Nothing incriminating was recovered. Search was conducted at residence of applicant on 19th March 2020. Nothing was recovered. Statement of Suresh Bhojan was recorded on 25th February 2020. He is working with ICICI Bank. He handed over cheques issued by Vimlesh Dwivedi. Production panchanama was recorded on 29th February 2020. Sure ..... X X X X Extracts X X X X X X X X Extracts X X X X
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