TaxTMI 
TaxTMI 
2014 (9) TMI 1281
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....r. P.S. Patwalia, ASG Mr. Ravindera Kr. Verma, Adv. Mr. B. Krishna Prasad, Adv. ORDER UPON hearing the counsel the Court made the following The petitioner has challenged the Order dated 30-7-2013 passed by the Gujarat High Court declining bail to him. It appears that the Forward Markets Commission ("the Commission"), a regulatory authority set up by the Government of India in accordance with the provisions of Section 3(1) of the Forward Contracts (Regulation) Act, 1952 ("the Act") received a complaint on 28-11-2010 wherein various irregularities alleged to have been committed by the National Multi Commodity Exchange ("the NMCE") were mentioned and the Commission's intervention was sought. The complaint pertained to trad....
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.... of Revenue also registered a case under the Prevention of Money Laundering Act against the petitioner. On 31-3-2013, the petitioner was arrested. The petitioner filed bail application in the Sessions Court which came to be rejected on 24-4-2013. On 28-5-2013 bail application filed by the petitioner in the High Court came to be withdrawn. After the charge-sheet was filed on 24-6-2013, the petitioner again filed bail application in the Sessions court which was rejected. The petitioner then filed bail application in the High Court. By the impugned order, it was rejected. Hence, this Special Leave Petition. On 7-10-2013, this Court directed the Directorate of Enforcement to submit a status report. On 3-1-2014, on perusing the said report, thi....
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....s submitted which was perused by this Court. As per the report, the presence of the petitioner's son was necessary for investigation. As his son was not available, the counsel for the petitioner was questioned about the whereabouts of his son and, on instructions, his counsel made a statement that the correct address of the petitioner's son will be furnished to the investigating agency. This Court also expressed that the petitioner must facilitate his son's coming back to India to join investigation. This Court further expressed that the petitioner shall inform his son that he should come back to India to join investigation. Mr. P.S. Patwalia, learned Additional Solicitor General, made a statement that considering the gravity of t....
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....re prima facie involved in the instant crime. In any case, the petitioner's son is the beneficiary of the embezzlement prima facie committed by the petitioner. The petitioner's helplessness appears to be feigned. We are informed that the petitioner evaded arrest from 26-4-2012 to 30-3-2013. His son, who is one of the main accused, is refusing to join investigation. The petitioner made a statement that his son will return to India to join investigation and this statement was recorded by the High Court in its order dated 30-7-2013. But till date, the assurance given to the High Court is not fulfilled. Even this Court had directed the petitioner to facilitate his son's coming back to India to join investigation, however, there is ....