TaxTMI 
TaxTMI 
2021 (3) TMI 1446
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....gether, thus, same are being decided by a common order. The details of the bail applications are given below: 1. Criminal Misc. Bail Application No. 4012 of 2021 in case crime no. 385 of 2019, under Sections 409, 420, 467, 468, 471, 201, 120-B, IPC, Police Station Dadri, district Gautam Budh Nagar. 2. Criminal Misc. Bail Application No. 8209 of 2021 in case crime no. 353 of 2019, under Sections 409, 420, 467, 468, 471, 201, 120-B IPC, Police Station Dadri, district Gautam Budh Nagar. 3. Submission of the learned counsel for the applicant is that applicant is not named in the first information report. He was not the Director of the Company concerned and is not related in any way with M/s. Garvit Innovative Promoters Limited (in short "G....
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....tment were bank transactions. No advance amount was taken by the applicant. It is a no evidence case against the applicant as applicant is not connected with the Bike Boat Scheme launched by M/s. G.I.P.L. If entire prosecution case is taken into consideration then also applicant allotted the commercial office space in Grand Venezia Commercial Towers Private Limited to the G.I.P.L. and its sister concern as per the terms and conditions of the lease deed and same cannot be treated that the applicant was also involved in the money laundering done by M/s. G.I.P.L. and its sister concern. None of the ingredients of the offences levelled in the matter are attracted against the applicant. Amount shown to be credited in the account of the applicant....
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.... argued that if entire prosecution case is taken into consideration then also applicant cannot be prosecuted in the present matter for the amount credited by M/s. G.I.P.L. in the account of schemes launched by the applicant company. Referring to the statement of the witnesses recorded during investigation by the Investigating Officer it is further argued that they are pocket witnesses and were procured through investigation to connect the applicant with the present matter. Arrest of the applicant is illegal. Company to which applicant belongs has not been made accused, therefore, on this ground also the present prosecution cannot continue against the applicant. Applicant has co-operated with the investigating agency during investigation. Th....
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....r, 2018. Thus, it clearly shows that amount deposited by the investors in Bike Boat Scheme was diverted to the applicant's companies prior to the moving of the application for allotment of the land. Referring to the application moved on behalf of M/s. G.I.P.L. for allotment of the land it was further argued that person who had applied for allotment has not signed the application nor any stamp was affixed thereon. It was further argued that two contradictory views have been taken by the applicant. Criminal Writ filed by the applicant is also pending before the Court in which applicant has annexed the statement of the accused Sanjay Bhati in which he has admitted that M/s. G.I.P.L. has invested Rs. 150 crores in the applicant's compan....
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....nd apparent from the evidence and a prima facie case is made out against him. More than 2.5 lakhs investors who invested around 3500 crores are waiting for return of their money invested in the Bike Boat Scheme. 7. Sri Manish Goyal, learned Additional Advocate General in support of his submissions placed reliance on the following case laws: 1. Masroor Vesus State of U.P. and Another, (2009) 14 Supreme Court Cases 286. 2. Prasanta Kumar Sarkar Versus Ashis Chatterjee and Another, (2010) 14 Supreme Court Cases 496. 3. Y.S. Jagan Mohan Reddy Versus Central Bureau of Investigation, (2013) 7 Supreme Court Cases 439. 4. Gautam Kundu Versus Directorate of Enforcement (Prevention of Money-Laundering Act), Government of India, (2015) 16 Sup....
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....ved by the applicant's company does not bear the signature of the person moving it and said person had resigned from the post of Director prior to the date of moving the application yet commercial space has been allotted in the scheme launched by the applicant in favour of M/s. G.I.P.L. and its sister concern and possession over the commercial space has also been taken. The said allotted land is reported to be attached by the Enforcement Directorate in the proceedings started against main accused but accounts of the applicant's company have not been attached. Thus, keeping in view the facts and circumstances of the case, role assigned to the applicant to connect him with the present matter, comparing the same with the ingredients of....