Anticipatory Bail Denied in Gold Smuggling Case Due to Non-Cooperation and Lack of Evidence on Seized Assets.

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....The High Court dismissed an anticipatory bail application u/s 438 CrPC in a smuggling case involving seizure of foreign-origin gold and cash. The applicant, claiming ownership of a gold business, failed to prove legitimacy of seized items. Lack of cooperation with DRI, non-response to summons, and absence of satisfactory explanations regarding cash and sales transactions led to rejection of bail. The economic nature of the offence, potential 7-year sentence, and insufficient evidence resulted in denial of anticipatory bail. Merely the submission that the seized items belong to the applicant and his firm and he is ready to pay the penalties and fee does not absolve the applicant from explaining with particularity regarding the huge quantum of cash, gold and ornaments record.....