AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2021 (9) TMI 551
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....rehouses. The corporate office of the company is situated at Andheri, Mumbai. The shipments of goods is carried out on instructions from the corporate office. For transporting goods of the company to various parts of country, the transport companies have executed contracts with the complainant company. As per the call of the complainant company the transporters pick up the goods from warehouse for delivery. The entry in respect to the delivery is made in four lorry receipts, which also carries the details of place where the goods are delivered, quantity of goods etc.. One copy of the lorry receipt is kept on record with warehouse officer and the other three lorry receipts are forwarded to respective parties. On delivery of goods the lorry receipt is accepted with acknowledgement by the concerned party. One lorry receipt is kept by the transporter and the last receipt is submitted to the company office with bill of transportation. After delivery of the goods by the transporter, the summary of details is provided to the corporate office through e-mail, which contains sales invoice number, lorry receipt number, number of packets, destination and some times the weight of the goods. The....
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....ors or officers from M/s.EXL India Pvt.Ltd or M/s.DNX Cargo India Ltd were arrested. Statements of witnesses were recorded. On completing investigation charge sheet was filed before the Court of Additional Chief Metropolitan Magistrate, 47th Court, Esplanade, Mumbai against Vinit Gupta, Ramesh Gupta (applicant), Vimlesh Dwivedi, Directors and officers of M/s.DNX Cargo India Pvt.Ltd, Directors and officers of M/s.EXL India Pvt.Ltd. 4. The applicant preferred application for bail before the Court of Sessions. The said application was rejected by order dated 11th February 2020. The applicant preferred another application for bail before the Court of Metropolitan Magistrate. The said application was rejected by order dated 19th May 2020. The applicant preferred application for bail before Sessions Court which has been rejected by order dated 11th August 2020. 5. Prior to registration of aforesaid FIR viz CR No.454 of 2019, the complainant company had lodged FIR with Andheri Police Station vide CR No.591 of 2018 on 5th December 2018 for offences under Sections 406, 408, 420, 465, 467, 468, 470, 471 r/w 34 of Indian Penal Code. Investigation in respect to the said FIR was then transfer....
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....e Court of Magistrate vide order dated 17th May 2019 in CR No.591 of 2018. Vinit Gupta was also granted bail by learned Magistrate in CR No.454 of 2019 vide order dated 6th July 2020; (c) The complainant had registered two FIRs. The first FIR was registered vide CR No.591 of 2018 on 5th December 2018 with Andheri Police Station and the second FIR was registered vide CR No.454 of 2019 on 3rd August 2019 with same Police Station. Investigation in both FIRs was then transferred to Economic Offences Wing. It was not permissible in law to lodge second FIR in relation to same transactions; (d) M/s.EXL India Pvt.Ltd. had filed a suit for recovery of dues against M/s.Rashi Peripherals Pvt. Ltd (complainant u/s 4 of Specific Reliefs Act viz Special C.S.Case No.464 of 2019 before the District Court at Thane. The second FIR was registered against Vinit Gupta and M/s.EXL India Pvt.Ltd. after the suit was filed by M/s.EXL India Pvt.Ltd.. (e) Although the applicant is in custody for more than one year, there was no cogent evidence before investigating authority to link the amount credited in to the account of applicant with alleged misappropriated amount; (f) The second FIR was registere....
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....bers are frozen during investigation. Search at the residence of applicant was conducted. Records are obtained from banks; (m) The primary beneficiary, according to the complainant, are transport companies viz M/s.EXL India Pvt.Ltd. and M/s.DNX Cargo India Ltd. The investigating agency has not obtained any accounting records, bank and financial records of M/s.EXL India Pvt.Ltd. and M/s.DNX Cargo India Ltd; (n) Vinit Gupta was not the head of department. He left the job as Accounts Assistant. He was at the bottom of the chain of command at Rashi Peripherals Pvt.Ltd's Accounts Department. Apart form Vinit Gupta, no other person is investigated from Rashi Peripherals Pvt.Ltd in connection with these allegations. Entry of all bills and logistics were done by Sunil Pareira after approval of Mukesh Rohila. The complainant used to sign cheques, release bills etc. There was proper chain of command up till CFO of complainant company. Mukesh Rohila approved of invoices issued by the transporter companies and complainant himself had the authority and signed the cheques for payment of transport companies on behalf of M/s.Rashi Peripherals Pvt.Ltd. The complainant Navin Agarwal was also inv....
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....ect of applicant. After careful inspection of the bank accounts, it was found that the applicant is involved in commission of offence. He has conspired with his son Vinit Gupta and misappropriated amount fraudulently obtained and diverted huge funds for his own benefits. Bank account of the applicant was inspected and it was transpired that he received Rs. 4 crores by way of cash and cheque deposit. The co-accused deposited huge cash which was further transferred, diverted in the name of relatives and companies. The father of applicant Bholaram Gupta, Smt.Kiran Gupta (wife), Prabha Gupta (daughter) had expired long back. The cash was deposited into their accounts to evade recovery of amount. The applicant used bank accounts of the said persons and accepted cheques of huge amount in their names from transport companies. Rs. 1 crore by way of cash and cheques were deposited into the accounts of relatives. The applicant had purchased properties by utilizing the said amount. The investigating officer has filed affidavit opposing bail. 9. Learned Advocate appearing for the intervenor/complainant reiterated the submissions of learned APP. It is submitted that the applicant failed to fur....
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....harge sheet was filed against the applicant. The prosecution contends that further investigation in accordance with Section 173(8) of Cr.P.C is in progress. It is alleged that huge amount is involved in these transactions. Vinit Gupta is the prime accused. The applicant is father of Vinit Gupta. The case of the prosecution is that the applicant is allegedly involved in diverting funds of misappropriated amounts to the bank accounts of applicant and his relatives. Thus, the applicant has not been attributed any role in the alleged fraudulent transactions with complainant company. Although it is alleged that huge amount is transferred into the bank account of applicant and other relatives, on assumptions, the applicant cannot be detained in custody for indefinite period. The applicant has been in custody for 14 months and further detention is not warranted. According to the prosecution, Vinit Gupta is prime accused. He was working as an Accounts Executive. Considering the entire process involved in delivery of goods, issuance of lorry receipts, verification, submitting bills to concerned department and disbursing payment, it is difficult to accept that it can be engineered by single ....
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....tions since 2015 in the account of Kiran Gupta (wife of applicant). Whatever interest is accrued on the amount is disclosed in the tax returns. As far as the account of Bholaram Gupta HUF is concerned, the said account is being operated by the applicant being coparcener. As far as account of Prabha Gupta (daughter of applicant) is concerned, it is a joint account held by Prabha Gupta and son of applicant. The accused Vinit Gupta was entitled to operate said account. Yearly filings of income tax had disclosed transactions in the said account. Nisha Gupta is the daughter-in-law of the applicant. She was married to Vinit Gupta in 2017. The bank accounts of the applicant are frozen at the request of EOW, Crime Branch. Learned Magistrate while granting bail to Vinit Gupta vide order dated 7th July 2020 has observed that Navin Agrawal had registered FIR No.591 of 2018 at Andheri Police Station which was investigated by EOW vide CR No.3 of 2019 and considering the contents of the said FIR and the FIR in CR No.454 of 2019 (CR No.71/2019), it is apparent that these are identical facts on which second FIR is registered, though some accused are different. He was granted bail in EOW Crime No.3....