TaxTMI 
2026 (5) TMI 1879
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....re-arrest bail in connection with Buxar Nagar Thana P.S. Case No. 415 of 2024 registered for the offence(s) punishable under Sections 406, 467, 468, 471/34 of the Indian Penal Code and Section 138 of N.I. Act. 3. As per the allegation made in the FIR, the informant paid an advance amount of Rs.60 lakhs to Mukesh Kumar Sarraf (the petitioner), his brother Randhir Sarraf, and his father Vijay Sarraf for the purchase of a property. Subsequently, upon inquiry, the informant discovered that the said property was disputed and encumbered with several legal issues. Thereafter, the informant approached the petitioner and demanded refund of the aforesaid amount of Rs.60 lakhs. In response, the petitioner issued five cheques of Rs.12 lakhs each, to....
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....m to part with a sum of Rs. 60 lakhs on the pretext of providing a property. Learned counsel submitted that despite receiving the said amount, neither was any specific property disclosed nor has the amount been returned to the informant. It is further submitted that the petitioner had issued five cheques of Rs. 12 lakhs each, totalling Rs. 60 lakhs, towards repayment of the amount received from the informant. However, upon presentation, all the cheques were dishonoured by the bank. Learned counsel further submitted that the petitioner has three criminal antecedents, out of which two are of similar nature, being habitually involved in the offences. It is, therefore, contended that a clear case of cheating and fraud is made out against the pe....
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.....12.2023 is of huge amount and such huge amount cannot be in respect of any simple business run by the parties. In these backgrounds, learned counsel submitted that the petitioner don't deserve to be released on pre-arrest bail, as he has not come before this Court with clean hands. 7. Having heard the rival submissions made on behalf of the parties and upon perusal of the allegations made in the FIR, this Court finds that the informant claims to have transferred certain amounts into the petitioner of the petitioner in a scheme namely "Saving Easy Access" which is verifiable from the account opened in the Axis Bank (Annexure P/4). This Court has also perused the details of the transactions and the manner in which deposits were made into ....