The instant petition is allowed and the petitioner is directed to be released on regular bail as the matter already stands investigated
Section 132 of the CGST Act— Bail —-The petitioner prayed for regular bail in a case registered under Section 132 (1) (c) of the Act, 2017. The petitioner counsel submitted that he was arrested on 10.11.2020 on account of wrong availment of ITC for Rs. 11.56 crores, even though he has already reversed Rs. 6.6 crores. Further, no FIR or complaint had been filed. The respondent counsel submitted that hat a complaint has been filed. There would be an assessment of approximately Rs. 11 crores and odd amount and he had filed ITC amounting to Rs. 19 crores and odd amount. The court observed that the matter already stands investigated and the challan stands presented and therefore, custody of the petitioner herein would no longer be required.
Held that:- The Hon’ble High Court directed the petitioner be released on regular bail on execution of adequate personal/surety bond amounting to Rs. 10 lakhs and on certain conditions.