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of <h1>Businessman Secures Conditional Bail in GST Fraud Case, Must Deposit 5% of Fraudulent Amount Within 30 Days</h1> <h3>Deepak Singhal S/O Shri Gopal Singhal Versus State of Madhya Pradesh</h3> Deepak Singhal S/O Shri Gopal Singhal Versus State of Madhya Pradesh - 2024 (85) G.S.T.L. 439 (M. P.) Issues involved: Bail application u/s 439 of Cr.P.C. for offences u/s 420, 467, 468, and 471 of IPC and Section 132 of GST Act.Bail Application under Section 439 of Cr.P.C.: The applicant, a businessman, filed a bail application under Section 439 of Cr.P.C. as he had been in jail since 7.10.2023 in connection with a case involving offences under Sections 420, 467, 468, and 471 of IPC. The applicant had allegedly obtained forged bills and was ready to deposit 5% of the amount involved. The prosecution opposed the bail application citing the seriousness of the white-collar crime committed by the applicant and others.Allegations and Defence: The prosecution alleged that the applicant had obtained forged bills from Ajay Parmar, resulting in a transfer of Rs. 87,49,147 to another entity for the purpose of gaining input tax credit. The applicant, a businessman, was accused of earning wrongful gain through input tax credit, an offence punishable under Section 132 of the GST Act. The applicant's involvement was based on a memorandum provided by the main accused, Ajay Parmar. The applicant expressed readiness to deposit 5% of the amount in question.Judgment and Conditions: After hearing both parties, the court allowed the bail application with specific conditions. The conditions included the deposit of 5% of the amount with GST Authorities, subject to the final judgment of the trial court. Failure to deposit the specified amount within 30 days of release would lead to the arrest of the applicant. The applicant was directed to furnish a personal bond of Rs. 1,00,000 with two solvent sureties and comply with the conditions outlined in Section 437(3) of Cr.P.C.Conclusion: The High Court of Madhya Pradesh granted bail to the applicant, a businessman accused of offences under the IPC and GST Act, subject to stringent conditions aimed at ensuring compliance with the legal process and safeguarding against potential evasion of justice.
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