TaxTMI 
TaxTMI 
2019 (4) TMI 1569
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....mar Singhi, wife of the petitioner in Criminal Petition No.2484/2019 under Section 438 of Cr.P.C. to release them on anticipatory bail in the event of their arrest in proceedings No. ADCOM/ENF/SZ/ACCT.03/INS./2018-19, dated 9.1.2019. 2. I have heard Sri Ravi B.Naik, the learned Senior Counsel for the petitioners and Sri Nitin Ramesh, the learned Additional Advocate General for respondent Nos.1 to 4 and Sri Jeevan J. Neeralgi, learned Standing Counsel for respondent No.5. 3. Before going to consider the submissions made on behalf of the parties, I feel it just and proper to mention the gist of the complaint in brief. Petitioners herein are husband and wife and they are the Directors of M/s. Steel Hypermart India Private Limited and M/s....
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....are compoundable before the Commissioner on payment. He further submitted that there is no illegality or there is no loss of revenue caused to the Government. The petitioners have paid GST by creating invoice and no input supply credit has been claimed by the Companies. He further submitted that the petitioners have not availed any loan or not raised any amount from the banks. Even in input tax the credit has also been given and that has not been deducted or claimed from the Government. He further submitted that the petitioners are ready to co-operate with the investigation and they are ready to abide by the conditions imposed by this Court. On these grounds, he prayed to allow the petitions and to grant anticipatory bail to the petitioners....
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.... and need to be visited with a different approach in the matter of bail. Economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously and considered as grave offences affecting the economy of the country as a whole and thereby posing a serious threat to the financial health of the country. He further submitted that the Court must keep in mind the nature of accusations, the nature of evidence in support thereof, the severity of the punishment which conviction will entail and thereafter the bail application has to be considered. He further submitted that the petitioners have not co-operated for the purpose of investigation since three months though several notices have been issued. If t....
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....019 c/w. Criminal Petition No.498/2019, disposed of on 18.2.2019 has discussed elaborately all the points and thereafter it has come to the conclusion that the accused-petitioners therein are entitled to be released on bail. In the instant case also, similar allegations have been made as against the petitioners and as the said aspect has already been covered by this Court in the aforesaid petitions by the order dated 18.2.2019, I feel that the petitioners herein are also entitled to be released on anticipatory bail. Accordingly petitions are allowed. The petitioners herein are granted anticipatory bail. In the event of their arrest in proceedings No. ADCOM/ENF/SZ/ACCT.03/INS./2018-19, dated 9.1.2019, the petitioners herein are ordered to....