TaxTMI 
TaxTMI 
TaxTMI 
2023 (12) TMI 957
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....cedure, 1973 (for short 'CrPC'), for the production of respondent No. 1/original accused in a case being investigated by the applicant. 2. The record indicates that a case has been registered as CBI/EOB/Mumbai being RC 0682017 E 0004 on 13.5.2017 against the Directors and proprietors of M/s Stelkon Infratel Private Limited, and twelve other entities and unknown others, as well as public servants under Sections 120-B read with 420 of the Indian Penal Code (IPC) and 13(2) r/w 13(i) (d) of Prevention of Corruption Act (PC Act). 3. It is alleged that between 2014 and 2016, 13 entities were created using IECS registration at fictitious or non-existent addresses. Current accounts were opened in the name of these entities in six banks, viz. Punj....
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.... proprietors of these entities. The accused persons obtained IEC, VAT, and other registrations for 13 entities (11 firms and 2 companies) and opened current accounts in the branches of Punjab National Bank, Canara Bank, Corporation Bank, e-State Bank of Hyderabad, Central Bank of India, and Axis Bank in Mumbai. 5. During the period of 2014-2016, Mohd. Farooq, the accused/respondent No. 1, along with his accomplices, collected a large sum of cash amounting to Rs. 2252 Crs. from various entities who wish to launder money to Hong Kong illegally. The collected cash was then layered through various angadias, cheque discount brokers, and the accounts of the members of multiple cooperative societies. 6. The accused entities imported low-value Ch....
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....ies (BEs) and invoices. The BEs were used to convert INR into USD as per the exchange rate, and the Forex remittance was sent based on the USD value found in the forged BEs and invoices. The goods imported were for a lower value, but the money sent abroad using the forged BEs and invoices was of higher value. The accused persons had collected and enjoyed illegal income/commission through Havala activities and shared the same among themselves and other persons. This modus operandi caused a loss of Forex in USD equivalent to Rs. 2252 Crores and also the consequent import duty in the name of import of goods, which affected the economy at large. In total, a large amount of USD equivalent to Rs. 2187.37 Crs. approximately were sent on 1174 occas....
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....nk accounts for the 13 entities in question. They sent huge Forex remittances and made namesake imports to sustain the image of the importer with banks to get his funds transferred as import payments. They had submitted a forged Bill of Entities and had remitted Rs. 2189.35 Crs. In 1175 instances to 178 foreign entities. The consequent duty loss to Custom is Rs. 657 Crs. 12. The investigation revealed that Mohd. Farooq, the first respondent/accused, along with his team, has been continuously threatening the prime witnesses of this case. It has been brought to notice that Mohd. Farooq has arranged false complaints and made false criminal cases against the witnesses at various police stations in Mumbai. Additionally, Mohd. Farooque has also ....
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....cement Directorate (ED) vide ECIR/MBZO/03/2017. The case is being heard in the PMLA Special Court, Greater Bombay and is numbered as Special Case No. 6 of 2018. 16. The applicant filed an application in the trial Court under Section 267 of the CrPC to obtain a production warrant against respondent No. 1/accused on 24.2.2022. The CBI Special Judge, Greater Bombay, passed an order dated 25.2.2022 disposed of this application and granted permission to CBI/applicant to summon respondent No. 1/accused through jail authority for interrogation only as per law after obtaining suitable orders from Special PMLA Court in whose custody at present respondent No. 1/accused is currently in. 18. Mr DP Singh, the learned Counsel, submitted that the interr....
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....nal Writ Petition No. 1153 of 2023, granted bail to the respondent/accused and therefore, he is no longer in custody. According to the learned Counsel, Section 267 CrPC has no application post granting bail. He invited the attention of this Court to the orders passed in Writ Petition No. 495 of 2022 dated 17.2.2023 to contend that the applicant/CBI made a statement that the respondent/ accused will not be arrested till the next date provided the petitioner shall cooperate with the investigating officer. He submitted that executing a bail bond is a procedural requirement for which some time will be required. 22. The learned Counsel for the respondent/accused submitted that Section 267 CrPC is not applicable after bail has been granted. Howe....