The Punjab and Haryana High Court reduces the bail bond for accused floating bogus firms and the supply of fake invoices.
The petitioner, Ranjit Singh was alleged of floating bogus firms and supply of fake invoices and facilitating the loss of huge amounts of revenue to the State Exchequer for which the petitioner was arrested.
The petitioner seeks to quash the condition in the order passed by the Additional Sessions Judge, Panipat whereby, while granting bail to the petitioner, he has been directed to furnish bail bonds of Rs.50,00,000 with one surety of like amount, to the satisfaction of the Ilaqa Magistrate/Duty Magistrate.
The petitioner argued that the said onerous conditions resulted in practically denying the grant of bail to the petitioner as he is not in a position to pay the outstanding amount of Rs.50,00,000.
It is further submitted that there is a presumption of innocence against the accused and a finding has to be recorded by a competent Court of jurisdiction that the petitioner is guilty and since a complaint has been filed under the relevant provisions, the said condition is on the wrong prior assumption that the petitioner is guilty.
However, the State Counsel while justifying the imposition of the conditions contended that once the amount exceeded Rs.5 crores, the offense would become non-bailable under Section 132(1)(l)(i) and Sub-section (5) of the Act.
The counsel for the state further contended that apart from the fact that there was a non-existent firm in the name of M/s Maa Karni Yarns due to which tax had been evaded of Rs.1,94,78,017/-. The details were also given as to how the petitioner had shown purchases from fake firms along with other accused, in support of the order, to submit that it would protect the interest of the Exchequer and the prosecution.
The Single Judge Bench of Justice G.S. Sandhawalia, while modifying the order passed by the Additional Sessions Judge reduced the bail bond from Rs.50 lakhs to Rs. 25 Lakhs which shall be in the form of immovable property, to the satisfaction of the Ilaqa/Duty Magistrate, Panipat.
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