TMI Blog2018 (5) TMI 2172X X X X Extracts X X X X X X X X Extracts X X X X ..... d to the two firms of petitioner namely Shrinivas Enterprises and Jai Jinendra Sales Corporation over to the firms/companies of Govind Babu and Naveen Somani in discharge of the liability of Yogesh Mittal. Petitioner, if at all is a beneficiary for a sum of INR 2 lakhs the petitioner has no role in the deposit of cash in the accounts of Raj Kumar Goel or Yogesh Mittal from which demand drafts were made which were recovered from Kamal Jain, CA of Rohit Tandon. Evidence is documentary in nature and the trial is likely to take some time. Hence, this Court deems it fit to grant bail to the petitioner. It is, therefore, directed that the petitioner be released on bail on his furnishing a personal bond in the sum of INR 1 lakhs with one surety of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... monetized currency into new currency notes. The alleged mediator was offered commission on all such transactions. Raj Kumar Goel, having bank accounts in Kotak Mahindra Bank, Naya Bazar Branch, deposited old currency notes in Kotak Mahindra Bank, Connaught Place Branch pursuant to the instructions of the chartered accountant and Ashish Kumar. Thereafter, the bank manager issued demand drafts in the name of Sunil Kumar, Seema Bai, Dinesh Kumar and others against the cash deposited. It was further alleged that various bank accounts were opened in the name of various companies on the basis of forged and fabricated documents and approximately ` 25 crores had been deposited by the accused persons in these companies after demonetization. Thus, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd 12th December, 2016. 5. It was further alleged that the money so received in the accounts of M/s. Jai Jinendra Sales Corporation and Shrinivas Sales Corporation was further transferred in the accounts of Harsh International Industries Pvt. Ltd. and H.B. Manufacturing Industries Pvt. Ltd. Statements of Govind Babu, owner of Harsh International Industries Pvt. Ltd. and Naveen Somani, Director of H.B. Manufacturing Industries Pvt. Ltd. were recorded wherein they confirmed their transactions with M/s. Jai Jinendra Sales Corporation and Shrinivas Sales Corporation and that the agreements with aforesaid firms were signed through Yogesh Mittal. 6. Learned counsel for the petitioner contends that the prosecution has not arrested the main accused ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een utilized for his personal benefits and the liability, if any, was of Yogesh Mittal and merely the two accounts of the firms M/s. Shrinivas Sales Corporation and M/s. Jai Jinendra Sales Corporation which was being run by the petitioner were utilized to transfer money to Govind Babu and Naveen Somani who have been made witnesses and not as accused. The allegations at best against the petitioner in para 16.14 of the charge sheet is of withdrawal of ` 2 lakhs in cash. The petitioner's role surfaces only in the second supplementary charge sheet. The entire evidence is documentary in nature and thus cannot be tampered with. The petitioner has no influence on the witnesses and no recoveries are required to be made from the petitioner. No c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10% commission was of Ashish Kumar, 10% of Yogesh Mittal, 10% of Raj Kumar Goel, 4% of the remaining persons and 1% for miscellaneous expenses. Thus, it is the case of prosecution that 65% of ` 38 crores were deposited in the accounts of the different firms of Yogesh Mittal and Raj Kumar Goel and thereafter demand drafts were prepared in fictitious names. Further, 35% of ` 38 crores of demonetized currency i.e. approximately ` 13.30 crores as commission was deposited in various accounts of Yogesh Mittal and Raj Kumar Goel and their associates. Role of the petitioner is not concerned with the balance 65% amount which was deposited in the various accounts of Yogesh Mittal and Raj Kumar Goel and their associates, whereafter drafts were got pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ness, that is, Akul Exports Pvt., Virukti Enterprises, Jai Jinendra Enterprises, Shrinivas Sales Corporation. He stated that though the proprietor of these firms were someone else but he was actually doing the business with Yogesh Mittal and that he would produce the ledger accounts of all his businesses with Yogesh Mittal in the year 2016-2017 in the various firms namely Shrinivas Sales Corporation, Jai Jinendra Sales Corporation, GSK Enterprise, Yashoda Marketing, Sujay Marketing Company with his company Harsh International Pvt. Ltd. 10. Even Naveen Somani stated that since June, 2009 his firm H.B. MFG Industries Ltd. was doing business with Yogesh Mittal initially in the name of the firm Kanak Traders, then Akula Marketing Company, there ..... X X X X Extracts X X X X X X X X Extracts X X X X
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