TaxTMI 
TaxTMI 
2024 (8) TMI 1544
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....k Suraksha Sanhita, 2023 (hereinafter referred to as the 'BNSS'), a prayer has been made to release applicant-Hitesh Gandhi, on interim bail, in case No. ECIR/SHSZO/04/2019 dated 22.07.2019, registered with the Enforcement Directorate Office (ED), Sub-Zonal Office, Rani Villa, Bagrian House, Strawberry Hills, Chhota Shimla, Shimla, Himachal Pradesh, on the ground that he is the Director of various Companies, i.e. Walia Trading Ltd., Faradays Industries Pvt. Ltd., Indigo Fincap Pvt. Ltd., Pandoga Education and Research Foundation, Rashma Finance Pvt. Ltd., K.C. Land and Finace Ltd., Sutlej Service Station Ltd., KC Trust, KC Society, Khushal Chand Education Society Dagham and all the said Companies have to file the Income Tax Return. 2.....
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....long with others, has played a major role in the scam, wrongfully withholding the rightful scholarship entitlement of the scholarships of the students, belonging to SC, ST and OBC students of Himachal Pradesh. According to ED, they have diverted the said funds into their pockets/ accounts. 22 institutions are stated to be involved. In this regard, ED has relied upon the charge sheet submitted by CBI. The investigation is stated to be going on to unearth the illicit money and ascertain the proceeds of crime (PoC), obtained by way of this scam. 7.3. After recording the reasons to believe in writing, the applicant and his co-accused were arrested by ED on 30th August, 2023, under Section 19 of PMLA, in the said ECIR. Thereafter, they were pro....
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....466 and 471 IPC, against the unknown persons. As per the allegations of the said case, there were complicity of individuals from State Government Education Department, Bank Officials and private institutions. Misappropriation in the disbursement of scholarship funds, in large scale, has also been alleged. The offences, under Sections 419 and 471 IPC, are also stated to be scheduled offences, mentioned in the schedule, appended to PMLA and as such, inquiry was initiated. 7.8. The applicant is stated to be the Vice Chairman of KC Group of Institutions at Pandoga, Una and Nawashehar, Punjab. According to the ED, during the course of investigation, it has been revealed that KC Group of Institutions, Pandoga and Nawashehar, in connivance with t....
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....KC Group of Institutions, Rs. Pandoga. 7.12. Apart from this, it has been apprehended that the applicant may influence the witnesses, who, are his exemployees and also hamper the investigation to trace remaining proceeds of crime. 8. On the basis of above facts, a prayer has been made to dismiss the application. 9. It is worthwhile to record herein that in view of the reply filed by the ED, the applicant was directed to file requisite affidavit to show that he is still the Director of M/s Walia Trading Limited. The said affidavit has now been filed, wherein, it has been recorded that the applicant is still the Director of ten Companies, as detailed in the said affidavit. 10. Moreover, the applicant was also ordered to be released on int....