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of <h1>Gold trader's anticipatory bail denied under Section 438 CrPC for smuggling charges involving foreign gold and cash seizure</h1> <h3>Ramkrishna Jaladhar Parai Versus Union of India Thru. Deptt. of Revenue Intelligence Lko.</h3> Ramkrishna Jaladhar Parai Versus Union of India Thru. Deptt. of Revenue Intelligence Lko. - TMI Issues Involved:1. Anticipatory Bail Application u/s 438 Cr.P.C.2. Seizure and Recovery of Gold and Cash3. Applicant's Business and Legitimacy of Seized Items4. Non-cooperation and Summons by DRI5. Economic Offence and Quantum InvolvedSummary:1. Anticipatory Bail Application u/s 438 Cr.P.C.:The applicant sought anticipatory bail in DRI Case No.6/2024 u/s 135 of the Customs Act, 1962. The Court rejected the anticipatory bail application, allowing the applicant to seek regular bail.2. Seizure and Recovery of Gold and Cash:DRI intercepted two co-accused on 20.02.2024, recovering 558.900 grams of gold of foreign origin and Rs. 3,29,25,000/- in cash. Follow-up searches led to additional recoveries of 7700.000 grams and 26500.000 grams of gold, valued at Rs. 3,69,60,000/- and Rs. 12,42,62,400/- respectively, along with more cash.3. Applicant's Business and Legitimacy of Seized Items:The applicant claimed ownership of M/s. Ram Laxman & Company, dealing in gold pieces and ornaments, and submitted GST invoices and stock reports. However, the Court found the documents insufficient to prove the legitimacy of the seized items and the applicant's proprietary rights over the firms.4. Non-cooperation and Summons by DRI:The applicant did not cooperate with the DRI and failed to respond to summons for recording statements. The Court noted the lack of satisfactory explanation for the source of the cash and the legitimacy of the transactions.5. Economic Offence and Quantum Involved:The Court emphasized the economic nature of the offence and the significant quantum involved. The applicant's failure to provide detailed explanations and supporting documents led to the rejection of the anticipatory bail application.
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