The Calcutta High Court has rejected the bail application by a Chartered Accountant under Section 439 of the Code of Criminal Procedure, 1973 on behalf of the petitioner who has prayed for his enlargement on bail on any conditions in consideration of the gravity of Economic Offence under Central Goods and Services Tax Act (CGST).
The order was pronounced by Justice Shivakant Prasad on a bail application filed by CA Arvind Kumar Munka.
The petitioner case is that he is a Chartered Accountant (CA) and is no way connected with the instant case and has been falsely arraigned as an accused on the allegation that the petitioner in connivance with the other accused persons, namely, Sanjay Kumar Pandit, Nagendra Kumar Dubey alias Sandip Dubey, and Mr Vijay Rajpuriya along with other persons had allegedly issued GST invoices without any supply of the goods to the buyers on commission basis causing loss of more than 98 crores approximately.
The Court came into conclusion in the light of judgment in case of P.V.Ramanna Reddy (supra), the petitioner is not entitled to be enlarged on bail, however, the petitioner is at liberty to approach the authority for compounding of the offence under Section 138 of CGST Act also the petitioner, who was the main accused was not entitled to regular bail. In the present case loss caused to Government Exchequer amounts to Rs.141,76,46,639/-. Therefore in such a huge economic offence, he should not be enlarged on bail.
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