Court Denies Bail to Accused in Fraudulent Input Tax Credit Case Citing Serious Allegations and Ongoing Investigation.

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....Seeking of regular bail - availment of fraudulent ITC on the basis of goods less and bogus purchase invoices from nonexistent and fraudulent firms - fake/bogus firms - Considering the gravity and the nature of the allegations levelled against the applicant-accused and the fact that the investigation of the case is at nascent stage and further considering the fact that now a days economic offences are rampant and should be dealt with the firmness, this court does not deem it proper to grant the concession of bail to both the applicants-accused at this stage - DSC....