TMI Blog2022 (1) TMI 854X X X X Extracts X X X X X X X X Extracts X X X X ..... T scheme. Economic offences constitute a class apart and even bail matters are required to be decided with different approach as it involves huge loss of public funds. True it is that offence committed under Section 132 (1) of the Act of 2017 is made compoundable under Section 138 of the Act of 2017, subject to deposit of amount assessed. Present is not the case where applicants being businessmen in the course of their business inadvertently committed any offence as defined under Section 132 (1) (b) (c) of the Act of 2017. From the documents collected by non-applicant Department during investigation and contents of complaint filed by non-applicant, it is apparent that applicants with intention to commit economic crime, created fictitious ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approximately to the government ex-chequer during financial years 2018-19, 2019- 20 2020-21. Applicants were arrested by non-applicant Department on 25.1.2021. After part investigation, complaint case was filed before the Court of Magistrate on 25.3.2021. Application for grant of bail filed by applicants before the Court below came to be rejected vide order dated 13.8.2021. 3. Mr. B.P. Sharma, learned counsel for applicants would submit that applicants have created firms for which registration is not mandatory. Allegation of non-applicant based on statements of some persons alleged to have been recorded during investigation that firms created by applicants are not in existence, in itself is not sufficient to hold that firms created by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the Court of Chief Judicial Magistrate, Raipur and argued that even if entire complaint is taken on its face value, then also no offence as alleged against applicants would be made out against them. One of accused by name Santosh Doshi has already been granted bail by Pune Bench of High Court of Bombay (Maharashtra), who was also made accused arising out of transactions as alleged against applicants. Applicants are in jail since 25.1.2021, no further custodial interrogation of applicants is required; witnesses shown in Annexure-A (part of complaint) are employees of the Goods and Services Tax Department, hence there is no apprehension of witnesses being influenced and evidence being tampered with by applicants. Referring to Section 138 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring any goods or service from them. Details of firms, their bank accounts as also amount transferred are specifically given in complaint. He pointed out that applicants are instrumental in creating fictitious firms across the country. Applicant No.1 admitted the fact of availing input tax credits by issuing invoices without actual supply of goods. Fake invoices are forwarded to beneficiaries, most of them are situated in Maharashtra. DDGI, Mumbai Zonal Unit has already initiated investigation against those firms. Matter is still under investigation, release of applicants on bail would hamper further investigation, hence they may not be enlarged on regular bail. He submits that non-applicant collected material during investigation which wil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of complaint, without there being any sales and purchases. So far as submission of learned counsel for applicants that there is no material to show that firms stated to have been created by applicants are not in existence, is concerned, during course of investigation applicants failed to bring on record any material establishing existence of firms/companies created by them. Mere fact that applicants are in jail since 25.1.2021 cannot be a ground to enlarge them on bail, particularly when it is the submission of learned counsel for non-applicant Department that different zones of Department are investigating into matter arising out of transactions with the firms/companies created by applicants. Further, during search and inspection conduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the heat of moment upon passions being aroused. An economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the Community. A disregard for the interest of the Community can be manifested only at the cost of forfeiting the trust and faith of the Community in the system to administer justice in an even handed manner without fear of criticism from the quarters which view white collar crimes with a permissive eye unmindful of the damage done to the national economy and national interest . 24. While granting bail, Court has to keep in mind the nature of accusations, nature of evidence in support thereof, the severity of the punishment which conviction will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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