The Andhra Pradesh High Court has dismissed an application for anticipatory bail filed by a Chartered Accountant in connection with the DesignTech scam worth 371 Crores, holding that granting anticipatory bail in economic offenses at the stage of the investigation will hamper the effective investigation.
Terming the alleged scandal in Andhra Pradesh State Skill Development Corporation (APSSDC) in which Rs 371 crore was involved, as socio-economic crime, the high court declined to grant anticipatory bail to one of the accused who is facing allegations of creating fake invoices to swindle money.
According to the prosecution, out of five, petitioner purchased three shell companies. The prosecution also got information that wife of the petitioner is one of the Directors in two companies out of three companies purchased by the petitioner. During examination of the petitioner, on 22.12.2021 and 18.04.2022, the prosecution could get some information and the petitioner was supposed to appear before investigating officer for further examination and he is supposed to cooperate with investigation. However, petitioner avoided to appear before investigating officer during crucial period.
The petitioner contended that as he is a self-employee, the charges under the Prevention of Corruption Act would not be sustainable against him.
Dismissing the petition, Justice Subba Reddy Satti observed that “Though learned counsel for the petitioner contended that no documents were filed by the prosecution regarding the purchase of shell companies referred to supra, by the petitioner, this is not the stage where this Court goes into all those aspects. All these aspects will be considered during the course of trial.”
“Considering the facts and circumstances referred to supra and the amount involved in this crime is about Rs.371,00,00,000/- keeping in view the gravity of the crime, it being socio-economic offense, petitioner is not entitled for prearrest bail,” the Court observed.
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