2020 (2) TMI 428

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...., Ms. Amandeep Kaur Sabharwal, Advocate, Mr. Hemant Bajaj, Advocate and Mr. Amar Partap Singh, Advocate, for the petitioner. Mr. T.K. Joshi, Advocate, for Mr. Ram Pal, Advocate, for the respondent.   Vivek Puri, J . The present petition is for grant of regular bail to the petitioner who was arrested on 07.10.2019 under Section 69 read with Section 132 of the Central Goods and Serv....

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....gly, the arrest of the petitioner was effected on 07.10.2019 on the allegation that by creating fake invoices, liability to the tune of Rs. 127 crores has been created for the government. I have heard learned counsel for the parties and perused the paper book. Learned senior counsel on behalf of the petitioner has argued that at the time of arrest and production in the Court, only police rem....

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.... and other concerns, as mentioned in the complaint, are under the control of the petitioner. The allegations against the petitioner are serious and magnitude of fraud is to the extent of Rs. 127 crores. It is to early to conclude that arrest can't be effected or prosecution can't be launched without issuing notice under Section 74 of the Act particularly when the power of arrest has bee....

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....to be viewed seriously and considered as grave offences, affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country." Furthermore, in the aforesaid decision and also in Y.S.Jagan Mohan Reddy versus Central Bureau of Investigation, 2013(3) R.C.R. (Criminal) 108 it has been held that while granting bail, the Court has to keep in mind t....